The currency pair Canadian dollar against the US dollar USD CAD continues to move in the rebound from the support area with a potential target of growth above the level of 1.32, the breakdown of this area will provoke the continued growth within the mining model Forex double bottom.
USD CAD forex forecast for tomorrow on January 19, 2017
We try to buy the pair with the tight stop and are ready to increase the amount of long positions with the breakdown of the descending trend line on the chart. Cancellation option will drop in prices and the breakdown of 1.2950 area, which point to a continuation of the downward trend for the pair.
Among the important news from Canada that may have an impact on the Canadian dollar stands out, change in the volume of industrial supplies, the growth rate is expected at the level of -0.8% to 0.2%, volume of transactions with foreign securities are expected to decline to a level 15.75V 10.23V level.
USD CAD forex forecast for tomorrow on January 19, 2017 suggests an attempt to quotations growth in the framework of the beginning of working out a reversal pattern double bottom with a potential target at 1.3350 above the field.
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