The USD/CAD pair went back and forth during the course of the session on Monday, ultimately forming a little bit of a shooting star. The shooting star of
The USD/CAD pair went back and forth during the course of the session on Monday, ultimately forming a little bit of a shooting star. The shooting star of course suggests that we are going to fall from here. However, the 1.32 level below is supportive, and as a result any type of supportive candle below is reason enough for us to start buying again. On the other hand, we break above the top of the shooting star, we would be buyers as well. The oil markets don’t have enough support to help the Canadian dollar at the moment.
USD/CAD Forecast November 17, 2015, Technical Analysis
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.
