USD/CAD Forecast August 28, 2013, Technical Analysis

The USD/CAD pair tried to rally during the session on Tuesday, but as you can see failed and formed a shooting star for the third session in a row. However, we do not like shorting this pair, simply because we think this is a pullback in an otherwise bullish market at the moment. We see plenty of support at the 1.04 level, so what we are waiting on is that pullback in order to buy a supportive candle in that general vicinity. So having said that, we are on the sidelines but we are very sure in what we need to see.



Written by FX Empire