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USD/CAD forecast for the week of March 21, 2016, Technical Analysis
Updated: Mar 19, 2016, 05:33 GMT+00:00
The USD/CAD pair initially tried to rally but the market turned back around to test the uptrend line during the week. On top of that, we tested the 1.30
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The USD/CAD pair initially tried to rally but the market turned back around to test the uptrend line during the week. On top of that, we tested the 1.30 level and it appears that it has held that this market up. With that being the case, we could turn around and we also have to keep in mind that the Friday candle is of course a hammer. If we break above the top of the Friday session, the market should continue to grind its way higher, but we realize that longer-term traders may be a little bit turned off by this chart.
About the Author
Christopher Lewisauthor
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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