Forecast for USD/CAD for the week from 13 to 17 January 2020

Let's see which way to trade the US dollar against the Canadian dollar (USD/CAD pair)

Judging by the readings of the wave cycle, the third won down has already ended and a surge has begun that has been going on for a whole week. Next week, a short-term correction is expected and the start of a new rise to approximately the indicated mark, which is at the level of 61.8

It is also worth considering that below - approximately at the level of 50, there will be strong resistance for the price. You should not take it for a breakdown, if you have open buy orders, it is better to close them near these levels, the price may bounce down.

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