USD/CAD Forecast July 12, 2013, Technical Analysis

The USD/CAD pair fell below the 1.04 level again, and now looks suspiciously weak. This is a pair that has been decidedly resilient lately, and below level I.03 level there is a significant support to keep this market higher. If we managed to close below the 1.03 level, we think that is a decent sell signal, completely only thing the bullishness that we had seen in this market. Nonetheless, we are simply going to look at this as a “binary trade”, and buy on a break of the highs of this candle, or simply sell on a break of the lows.



Written by FX Empire