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.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
