The USD/CAD pair fell during the week, but found enough support at the 1.30 level to turn around and form a hammer. If we can break above the top of the
The USD/CAD pair fell during the week, but found enough support at the 1.30 level to turn around and form a hammer. If we can break above the top of the hammer, I believe the market will continue to try and break above the 1.35 level above. Ultimately, if we break down below the 1.30 level, the market should then break down below and grind towards the 1.25 handle. However, there is a massive amount of noise between here and there, so I think it’s going to be easier for the market to rise then fall.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
