The currency pair Canadian dollar against the US dollar USD CAD continues to move in the forex bullish wave pattern Wolfe quotes pair repelled by the lower boundary of the model, and has the potential to continue to grow with the breakdown of the resistance area and the development of an upward trend in the area above the level of 1.3360.
USD CAD Forecast Canadian Dollar on February 6, 2017
In favor of a rebound appears breakdown resistance line on the indicator of relative strength, as well as the rebound from the support line. We try to buy the pair aggressive and increase the volume of purchases of USD/CAD.
Cancellation option will drop the pair growth and the breakdown of 1.2950 areas, which point to the abolition of the model and try to continue fall. Important news from Canada is not expected, so the pair will continue to move in the USD/CAD technical analysis.
USD CAD Forecast Canadian Dollar on February 6, 2017 assumes attempt pair of quotes growth within the mining start rising pattern Wolfe waves with a potential target of growth above the level of 1.35.
