The currency pair Canadian dollar against the US dollar USD CAD finished the trading week at 1.3373. The pair showed strong growth within the mining bullish wave Wolf, however, a potential target of the growth is the area above the level of 1.36. At the moment quotes are testing the resistance area, and there are risks to see a correction USD/CAD quotes to 1.33, where again we can expect attempts of growth.
USD/CAD Forecast on March 6, 2017 — March 10, 2017
In favor of a growth in the Canadian dollar quotations of the push test a broken trend line on the indicator of relative strength. Expect faster growth of the Canadian dollar quotations is a breakdown of the upper boundary of the descending channel and closing quotation USD/CAD above the level of 1.3450.
Cancellation option can be a sample area 1.33, which points to the continued decline in the area of the ascending channel’s lower border.
Among the important news from Canada on the next trading week, which may influence the course of the currency pair USD CAD is to provide, Unemployment Employment Change March 10, 2017.
USD/CAD Forecast on March 6, 2017 — March 10, 2017 suggests an attempt to continue growing in the area above the level of the local maximum of 1.35 in the framework of the continuation of mining the ascending wave Wolfe cancellation option growth may be a breakdown field 1.33, which indicates a continuation of the development of an adjustment pair.
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