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USD/CAD Forecast February 20, 2017, Technical Analysis

By:

Christopher Lewis

Updated: Feb 18, 2017, 04:40 GMT+00:00

The USD/CAD pair broke above the top of the hammer from the Thursday session during Friday, attempting to break out to the upside. If we can break above

The USD/CAD pair broke above the top of the hammer from the Thursday session during Friday, attempting to break out to the upside. If we can break above the top of the range for the Friday session, I think that the market will then reach towards the 1.32 level. On the other hand, we could pull back, and if we do the 1.3 level will be tested for support yet again. Oil markets are essentially going sideways and stagnant now, and that’s being seen over here and the USD/CAD currency pair as it is so sensitive to that market.

Watch our USD/CAD Video Forecast:

About the Author

Christopher Lewisauthor

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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