The USD/CAD pair initially fell during the course of the week, but turned back around in order to form a bit of a hammer. The hammer suggests that we are
The USD/CAD pair initially fell during the course of the week, but turned back around in order to form a bit of a hammer. The hammer suggests that we are going higher given enough time though, and as a result we are bullish. We look at pullbacks as potential buying opportunities, and then eventually we should go to the 1.35 handle. A break above there, the market should then continue to go much higher as it would be the next leg higher overall. We have no interest in selling until we get below the 1.28 handle.
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.
