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.
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.
