The USD/CAD pair broke higher during the course of the day on Friday, clearing the top of the candle from both Wednesday and Thursday. Because of this, we
The USD/CAD pair broke higher during the course of the day on Friday, clearing the top of the candle from both Wednesday and Thursday. Because of this, we feel that the market will eventually break out to the upside, and with Friday offering employment numbers from both countries, we could eventually see this market break above the 1.35 level later this week. Regardless, we like the upside in this market, and with that we are buyers of pullbacks on signs of support and of course breakouts to the upside as the oil markets simply do not offer enough strength to support the Canadian dollar.
USD/CAD Forecast November 30, 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.
