USD/CAD Forecast June 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 08 June 2016 08:01 UTC
The USD/CAD pair initially fell during the course of the session on Tuesday, but bounced enough to form a bit of a hammer. The hammer been broken to the upside would be a bullish sign and we could very well reach back to the upside, aiming for the 1.30 level. A break down below the bottom of the hammer would be reason enough to start selling, and would coincide with a break out in the oil market, as the oil markets have such a massive influence on the Canadian dollar in general.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.