USD/CAD Forecast December 6, 2016, Technical Analysis

The USD/CAD pair struggled during the day on Monday, as we continue to see quite a bit of bullish pressure in the oil market. Ultimately, the market looks as if it has quite a bit of support just below though, so I’m waiting to see whether we get a supportive candle that we can start buying. Once we do, I believe that the market will continue to go higher on a supportive candle from there, as we will reach towards the 1.35 handle. If we broke down below the 1.32 level, we would probably try to grind to the 1.30 level underneath there.

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