USD/CAD Forecast August 19, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 19 August 2016 06:42 UTC
The USD/CAD pair fell significantly during the course of the day on Thursday, as we continue to see weakness in the US dollar, and of course massive strength in the oil markets. With this being the case, I believe that any type of rally that show signs of exhaustion could be a selling opportunity, but then I believe that we are going to continue to go much lower after that. The 1.2650 level could be the next target in this market. I have no interest in buying this pair at this point in time unless of course oil falls apart suddenly.

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