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USDCAD Update, Can the Pair Keep Moving Higher?

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USDCAD, Monthly Looking at the longer term USDCAD chart (monthly) it is clear that prices have been in a very aggressive bull market for the last few years. The question going forward for traders is: when will this trend stop? For the moment, the CAD continues to track the current oil price decline and since it is still unknown as to when the Oil sell-off will halt it’s decline, I’m not going to bet against the upward momentum of the USDCAD until clearer signs of a price reversal pop up.

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