USD/CAD Forecast February 2, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Friday, but turned back around and give up about half of the gains. Ultimately, the market ended up forming a shooting star, which of course is a very negative sign. That negative sign it should have the market falling from here, and quite frankly we think that is going to end up being a buying opportunity. We have no interest in selling, and believe that the 1.25 level should be rather supportive. With that we are looking for supportive candles below in order to start buying.