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USD/CAD Forecast November 24, 2015, Technical Analysis

By:
Christopher Lewis
Published: Nov 24, 2015, 05:02 UTC

The USD/CAD pair initially tried to rally, but turned back around on Monday in order to form a bit of a shooting star. This simply shows that the market

USD/CAD Forecast November 24, 2015, Technical Analysis

The USD/CAD pair initially tried to rally, but turned back around on Monday in order to form a bit of a shooting star. This simply shows that the market is struggling a bit to continue to go higher, and as a result we believe that the market may have to pullback in order to build up momentum. Any supportive candle below should be a buying opportunity, and that’s exactly what we will use them for. We believe that the 1.35 level above is going to be resistive, but should eventually get broken above given enough time.

 

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About the Author

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.

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