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.
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.
