The USD/CAD pair initially tried to rally during the course of the week, but pullback to form a bit of a shooting star. Simultaneously, the oil markets
The USD/CAD pair initially tried to rally during the course of the week, but pullback to form a bit of a shooting star. Simultaneously, the oil markets rallied rather significantly at the end of the week. Because of this, this market may very well pullback. We are not looking for any type of break down though, because there is a significant support barrier between the 1.30 level and the 1.28 level below there. It is not until we get below all of that that we would consider selling. Supportive candles between here and there could be used as entries.
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.
