USD/CAD Forecast July 6, 2015, Technical Analysis

The USD/CAD pair initially trying to rally during the course of the day on Friday, but pullback to form a bit of a shooting star. The shooting star is identical in its implications to the shooting star on Thursday, meaning that we will more than likely get a bit of a pullback. However, we think ultimately that the US dollar will continue to strengthen so any selling at this point in time has to be very short-term at best. On the other hand, if we can break above the highs from the session on Thursday, we would be buyers.