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Analyzing USD/CAD.

CAD
Canadian economy has been one of the fastest growing developed economies on back of robust business investment and higher public infrastructure spending. Employment growth is also driving the wages higher providing more in the hands of people for discretionary consumer spending. I am expecting the economy to continue doing well while some moderation in growth is plausible.
USD
US economy is in very good shape and expected to keep up the GDP growth rate in coming quarters of year 2018. It giv…
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USD/CAD Analysis.

On the US dollar front there is a feeling that the economy is not as strong as everyone thinks and/or the Trump-growth agenda will take much longer than expected to implement and the Fed intends to push ahead with a three-hike plan that in and of itself, will trigger an economic retrenchment.
In Canada, recent consumption and housing indicators suggest growth in the fourth quarter of 2016 may have been slightly stronger than expected. However, exports continue to face the ongoing competitiveness…
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Predicting USD/CAD..

USD/CAD has been in uptrend for last four years on monthly charts. There is no new development which may change the trend. There has been a sizable correction in the beginning of the year. Now USD/CAD seems to be advancing towards it's previous highs.
On weekly charts it has taken a good support on upward trend line which is signaling a bullish continuation. My target for 2nd January 2017 is 1.388.
Tools used: Trend lines, Fibonacci expansion, 200 EMA and price actions.
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