The USD/CAD pair initially fell during the course the week but turned back around to form a bit of a hammer. Quite frankly, it looks as if we are trying
The USD/CAD pair initially fell during the course the week but turned back around to form a bit of a hammer. Quite frankly, it looks as if we are trying to build up enough pressure to break out to the upside for a longer-term move, and that is what we anticipate happening next. We look at pullbacks as value, and recognize that there is a massive support region between the 1.30 level, and the 1.28 level. We have no interest in selling, and look at pullbacks as potential value in the US dollar.
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.
