The currency pair Canadian dollar against the US dollar USD CAD continues to decline and currently quotes a pair of updated local minimum area.
There remains potential for attempts to increase the Canadian dollar quotations within mining bullish forex model Wolfe waves with a potential target of the growth of the Canadian dollar above the 1.35 level.
USD CAD Forex Forecast on February 1, 2017
Cancellation option will be the continuation of the reduction of quotations and sample pair 1.2900 area, which point to continued decline. In favor of a dew testing the rising trend line on the indicator of relative strength. We try to buy the pair and are ready to increase the volume of purchases with the development of growth.
Among the important news from Canada that may have a strong influence on the Canadian dollar, we should mention, Speech of the Bank of Canada with a speech and the PMI for the manufacturing seasonally adjusted by RBC.
USD CAD Forex Forecast on February 1, 2017 assumes growth in an attempt to start mining within the forex bullish wave pattern Wolfe with a potential target of growth above the level of 1.35, the abolition of the camp of the sample area 1.29, which points to continued decline.
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