daily forex forecast eur usd

Monday, 29 February 2016

USD/CAD Is Going to Trade New Important Support

In last December we have USD/CAD at the same levels and now its approaching to very confusing level? DO you think it will break that level?

If Oil falls CAD will be down in return and things will be tough for this pair to move higher. The most devastating news for USD/CAD was that when bank of canada did not cut the rates in the month of January.

It is now 1200 pips down and it is near 1.3460 and In October this level has performed a top level.
When it went down below 1.30 the pair moved upward again and again dropped in the month of November in the first attempt but it succeeded in the second attempt.

Canadian dollar is weak today and touching lower ground of 1.3481 and now pair seems to be moving slightly up.
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