As with any currency pair, there are an abundance of factors to consider when trying to forecast price. Those factors can be broken down into technical factors and fundamental factors. On the technical side, price action is paramount. However, for USD/CAD, one must also include the correlation between USD/CAD and crude oil when considering price movement. Crude oil is a key export for the Canadian economy; therefore, it is important that we also consider the price movement of USD/CAD. USD/CAD Source: Tradingview, City Index The trend is still lower, however if USD/CAD breaks higher out of the descending wedge, there … (full story)
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