USD/CAD Forecast December 5, 2016, Technical Analysis

The USD/CAD pair fell on Friday at the beginning of the day, but as we went into the afternoon during North American trading, the market turned around to form a supportive looking hammer. Because of this, it’s very likely that we will turn around and start going higher from here. This will be especially true if oil rolls over. Given enough time, it’s likely that we will see a lot of choppiness in this market. I believe a move towards the 1.35 level will happen on a break above the top of the hammer. - 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.

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