The currency pair Canadian dollar against the US dollar USD CAD finished the trading week at 1.3022. The pair was able to break through the lower boundary of the rising channel, which may indicate a continuation of the reduction and change of trend in favor of the fall, but here there is a bullish wave pattern Wolfe, which can trigger the growth of the Canadian dollar quotations in the area above the level 1.35.
USD CAD Forecast on February 6, 2017 — February 10, 2017
In favor of growth of pair as formation of acts forex reversal patterns failure swing in the relative strength indicator, which indicates the breakdown of the area 1.3350 closing prices. Cancellation option will be a breakdown of the field 1.29, which points to a continuation of the fall with a potential target of the fall to a level below 1.25.
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 rate, and the change in the number of employees, the data will be presented February 10, 2017.
USD CAD Forecast on February 6, 2017 — February 10, 2017 suggests an attempt to increase within the start mining forex bullish wave pattern Wolfe with a potential upside target level above 1.35 area.
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