The USD/CAD pair fell initially during the course of the session on Monday, but as you can see turned back around to form a hammer. The hammer of course
The USD/CAD pair fell initially during the course of the session on Monday, but as you can see turned back around to form a hammer. The hammer of course suggests that the market is going to go higher, reaching towards the 1.3450 level. We believe that the market is one that you can only buy and not sell. Pullbacks from here still should be buying opportunities as well, as there is more than enough support below to bring buyers back into this marketplace as the sellers are certainly on the run at this point in time.
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.
