USD/CAD Forecast December 16, 2016, Technical Analysis

The USD/CAD pair rallied on Thursday, as we continue to see quite a bit of bullish pressure in this market. The 1.34 level of course is a large, round, psychologically significant number, but I believe that the market is going to continue to go higher, perhaps reaching towards the 1.35 handle. A pullback from here should be thought of as value, and if the oil market breaks down as it looks like it could, that could continue to push this pair much higher. The market breaking above the 1.36 handle would continue the longer-term uptrend.

Eracash.com - 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. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com