USD/CAD Forecast December 15, 2016, Technical Analysis

The US dollar initially fell during the session on Wednesday but found enough support at the previous uptrend line that we turned around and formed a bit of a hammer. The suggest that we could rally, but I’m not convinced until we clear the 1.32 level on a daily close. Once we do, I’m a buyer and I believe that the market goes much higher. Pay attention to oil, because this of course will have a massive effect on the value of the Canadian dollar itself. If oil falls, a bounce from here makes a lot of sense. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. bears no responsibility for any trading losses you might incur as a result of using any data within the