USD/CAD Forecast July 5, 2013, Technical Analysis

The USD/CAD pair rose during a majority of the session on Thursday, but as you can see sellers stepped in and push this market back down. The 1.05 level continues offer support, and it should be noted that this market is highly sensitive to the nonfarm payroll numbers, and the fact that the Canadian employment numbers come out at the same time, this market will be very volatile and dangerous to say the least. We need to see the daily close in order to make any type of analysis on this pair. Because of this we will not make any trades whatsoever until Monday.



Written by FX Empire