USD/CAD Forecast July 25, 2013, Technical Analysis

The USD/CAD pair had a slightly positive session on Wednesday, after dipping and bouncing. The resulting candle is a hammer, but right now we feel that this market is probably a bit too weak to be bothered with. The 1.03 level did need to hold in order for us to hang onto any ideas of going long, but right now we feel it’s probably safer to simply buy this pair above the 1.0450 handle if we get there. As far as selling is concerned, a break of the hammer from the Wednesday session would be a nice signal.



Written by FX Empire