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
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.
