The USD/CAD pair rallied a bit during the day on Monday, but remains below the uptrend line that we have recently formed. A break above the top of the
The USD/CAD pair rallied a bit during the day on Monday, but remains below the uptrend line that we have recently formed. A break above the top of the hammer on Friday would have us going long, as it would be a significant moved to go higher. The oil markets of course have quite a bit of influence on the Canadian dollar, and thus you should pay attention to that market also. A breakdown below the bottom of a hammer would be a very negative sign and send this market much lower.
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.
