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Old 11-15-2016, 08:43 AM   Nav to Top 
Superforex
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Technical analysis of the currency pair USD/CAD on 15/11/2016.


General analysis.
Due to the release of news about Donald Trump's president election in America all basic quotes began lose their positions against the US dollar significantly and of course it also affected to the currency pair USD / CAD.
The last 4 trading days have passed with big increase for current trading instrument and the price has successfully broken through the upper boundary of the price channel 1.3530-1.3150 in which it was moving for the last 3 months.
There is no big resistance levels near to the price right now. The nearest level is located at 1.3670 and it was formed long time ago in February of this year.
Stochastic indicator show us the prevalence of decline in USD/CAD and gives a clear signal to buy.

Next few days
Considering all of the above signals, we recommend to play long on the currency pair USD / CAD with target points on profit-taking 1.3670 and 1.3780.
Up trend is still preserved as the top of the upward trend has still not been formed.
There is a possibility of short-term correction but after the results of the latest news from the Americas region but general direction for the currency pair USD/CAD is upward.

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