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Christopher Lewis
usdcad

The USD/CAD pair fell initially during the day on Tuesday, but found enough support below to turn things around and form a bit of a hammer. With this being the case, the market looks like it is ready to go higher, reaching towards the 1.3450 level yet again. If we can get above there, the market should then head to the 1.35 handle, and enter more of a “buy-and-hold” type of situation. We believe the dips offer buying opportunities as well, and as a result we have no interest in selling this market at all.

 

USD/CAD Forecast November 18, 2015, Technical Analysis

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