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USD/CAD forecast for the week of February 22, 2016, Technical Analysis
Published: Feb 20, 2016, 07:46 GMT+00:00
The USD/CAD pair went back and forth during the course of the, showing quite a bit of volatility. We believe that the 1.35 level below is still the
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The USD/CAD pair went back and forth during the course of the, showing quite a bit of volatility. We believe that the 1.35 level below is still the support that the market will continue to pay attention to, but eventually we will more than likely break above the 1.40 level. It is at that point in time that we will start buying this market again as it should continue the uptrend towards the 1.45 handle given enough time. We have no interest whatsoever in shorting this market, at least not until we get well below the 1.35 handle.
About the Author
Christopher LewisSenior Analyst
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.
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