USD/CAD Forecast February 10, 2015, Technical Analysis

The USD/CAD pair initially fell during the course of the session on Monday, as we continue to meander around the 1.25 handle. Because of this, the market looks as if it’s ready to grind sideways for a little while but we believe ultimately we are going to break out to the upside. Because of this, we are buyers above the highs for the session, as the market should then head to the 1.28 handle given enough time. The oil markets look like in a pullback a little bit, and that could be enough to push this pair higher. Ultimately, we have no plans to sell.