USD/CAD fell on Thursday as the oil markets rebounded from the Wednesday fall. The pair looks as if it is sitting on top of a massive support zone, and
USD/CAD fell on Thursday as the oil markets rebounded from the Wednesday fall. The pair looks as if it is sitting on top of a massive support zone, and the fall on Thursday could have been exacerbated by the lack of volume in the markets presently. With this in mind, we actually prefer buying the safe haven US dollar, but we are currently chopping around in a massive consolidation zone – so we are flat in this pair for the next day or two.
USD/CAD Forecast December 30, 2011, Technical Analysis
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.
