The USD/CAD pair initially tried to rally but turned back around at the 1.33 level to form a bit of a shooting star. While this is a somewhat negative
The USD/CAD pair initially tried to rally but turned back around at the 1.33 level to form a bit of a shooting star. While this is a somewhat negative candle, the reality is that there is enough buying pressure underneath the keep this market afloat. We believe that supportive candles below are buying opportunities as we need to take advantage of. We have no interest in selling this market, and believe that ultimately this pair reaches towards the 1.35 handle over the longer term. The US dollar continues to be one of the strongest currencies in the Forex world.
USD/CAD Forecast November 11, 2015, Technical Analysis
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.
