The USD/CAD pair went back and forth during the week, forming a shooting star of sorts. What’s interesting is that the Friday candle is a hammer, so
The USD/CAD pair went back and forth during the week, forming a shooting star of sorts. What’s interesting is that the Friday candle is a hammer, so expect more choppiness and back and forth type of trading in this market. That almost makes it impossible to trade this market from a longer-term perspective. Having said that, if we can break above the top of the shooting star for the week, I think that’s a very bullish sign and then we should reach towards the 1.35 level above. Until oil figures out what once to do, this pair is going to be difficult.
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.