The currency pair Canadian dollar against the US dollar USD CAD continues to test the support area at 1.33. At the moment, there are risks to see an attempt to increase quotations USD CAD as part of the beginning of working out bovine Wolfe wave model in order to increase above the level of 1.36. Cancellation option will break-down area 1.3150, which indicates an abolition of the model and the continuing drop in prices pair.
USD CAD Forex Forecast 6 December 2016. Wolfe Waves
We try to buy the Canadian dollar with a close stop and are ready to increase the volume of purchases as USD CAD development growth. Among the important news that can have a strong influence on the Canadian dollar tomorrow, December 6, 2016, is to provide, balance of foreign trade balance, the indicator will change from level to -4.1B -2.1B level, which may provide some support for the Canadian and The PMI from Ivey, is expected a slight increase in the indicator.
USD CAD Forex Forecast 6 December 2016. Wolfe Waves suggests growth in an attempt to start mining within the forex bullish wave pattern Wolfe with the upside above the level of 1.36, the cancellation options of growth will drop in prices below the level 1.3150, which will point to a continuation of the downward trend.
