The USD/CAD pair initially tried to rally during the course of the day on Thursday, but ran into quite a bit of trouble at the 1.1350 level. With that
The USD/CAD pair initially tried to rally during the course of the day on Thursday, but ran into quite a bit of trouble at the 1.1350 level. With that being the case, the market ended up turning back around and forming a massive shooting star. That shooting star courses negative, but we have a significant amount of support in the form of the 1.12 handle. Because of this, we feel that this market is probably going to break down a little bit here, but we expect to see plenty of buying opportunities between here and 1.11 or so.
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.
