The USD/CAD pair rallied at the open on Thursday, but found the 1.35 level to be resistive enough to turn the market around. Because of this, I think that
The USD/CAD pair rallied at the open on Thursday, but found the 1.35 level to be resistive enough to turn the market around. Because of this, I think that the market is going to look for buyers underneath, and at the first signs of a supportive candle I’m willing to go long. I would also be a buyer above the 1.35 handle, especially if the oil markets start to roll over like they have been over the last couple of sessions. I have no interest in shorting based upon the impulsive moved to the upside.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
