The USD/CAD pair initially fell during the course of the day on Friday, but turned back around to crash into the 1.3350 level. With this, we believe that
The USD/CAD pair initially fell during the course of the day on Friday, but turned back around to crash into the 1.3350 level. With this, we believe that the market is getting ready to go higher, but recognize that pullbacks could come. Pullbacks at this point time should be buying opportunities, so we will use them as such. We have no interest in selling, and that it’s only a matter of time before we make a much longer-term “buy-and-hold” type of situation. Oil markets continue to punish the Canadian dollar, while the US dollar continues to strengthen overall.
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.
