USDCAD Weekly Forex Forecast – 1st to 5th Jan 2018
The USDCAD has held above the big psychological number 1.2500 despite the strong sell off into the year end. We’re also near our support level 1.2550 from where we can expect a bounce and a return back into the range. Only a daily close below the big round number 1.2500 will open the door for more downside.
On the upside the first level of resistance only comes at 1.2663 followed by 1.2784 the middle of the previous price range. The stochastic indicator is already starting to bounce from oversold condition which is a bullish signal. The Canadian economic calendar will bring on Friday the Unemployment rate which is expected to inch higher to 6% versus 6.1% while the job numbers are expected to only show a modest gain of only 10k new jobs versus 79.5k.
Previous USDCAD Weekly Forex Forecast
USDCAD Weekly Forex Forecast – 1st to 5th Jan 2018
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