The USD/CAD pair initially fell during the course of the week, but found enough support below to turn things back around and form a hammer. The market is
The USD/CAD pair initially fell during the course of the week, but found enough support below to turn things back around and form a hammer. The market is in an uptrend to begin with, so therefore we are bullish. If we can break above the top of the hammer, and more importantly the 1.35 level, we are ready to continue going much higher. We have no interest whatsoever in selling at least until we get below the 1.28 handle, which is very unlikely at this point in time.
USD/CAD forecast for the week of November 16, 2015, 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.
