The USD/CAD pair initially fell during the course of the session on Friday, but turned back around to show a slightly positive candle. Ultimately, we feel
The USD/CAD pair initially fell during the course of the session on Friday, but turned back around to show a slightly positive candle. Ultimately, we feel that this market continues to grind its way towards the 1.3450 level, and eventually the 1.35 handle. Pullbacks will continue to offer value as far as we can see, especially considering that the oil markets continue to struggle. As the Canadian dollar is a proxy for the oil market, we have no interest in buying it, keeping us long of this market going forward and upward.
USD/CAD Forecast November 16, 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.
