The currency pair Canadian Dollar to US Dollar USD CAD finished the trading week rebound from the support area. Currently quotes are traded within the bullish forex model 1: 1, indicating the continuation of the Canadian dollar quotations growth higher than 1.3850.
USD CAD forex forecast on November 28 — December 2, 2016
An additional signal in favor of the growth is the test rising trendline on the Relative Strength Indicator. We continue to keep buying the pair with the tight table and are ready to increase the amount of long positions in the development of an upward trend. Cancellation option of bullish trends will drop in prices USD CAD on the next trading week below 1.33, which indicates a return quotes inside the rising channel and the continuation of the correction for the purpose of falling below the 1.29 area. Among the important news from Canada that may have an impact on the Canadian dollar is to provide the Bank Governor performance of Canada Stephen Poloz November 29, 2016, Change of GDP November 30, 2016, as well as the unemployment rate and the change in the number of employees, both indicators will be presented to the market December 2, 2016.
USD CAD forex forecast on November 28 — December 2, 2016 suggests an attempt to continue the growth of pair as part of the continuation of mining bovine FX 1: 1 model with a potential target at 1.3850, the abolition of the growth option would be a drop in prices below the level of 1.33.