Sponsors

USD/CAD Forecast August 10, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 10 August 2016 08:21 UTC
The USD/CAD pair initially tried to rally during the course of the day on Tuesday, but fell significantly from there. There is still a significant uptrend line just below though, and as a result I feel that it’s only a matter time before the buyers get involved and with the Crude Oil Inventories number coming out today, that could be the catalyst for a potential rally as the Canadian dollar is of course very sensitive to crude oil itself. It is not until we break down below the 1.30 level below that I would consider selling.

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.

Sponsors

Subscribe to Newsletter

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