USD/CAD Forecast July 28, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 July 2015 06:11 UTC

The USD/CAD pair initially fell during the day on Monday, testing the 1.30 level for support. It did in fact find it there, and therefore we bounce enough to form a hammer. The hammer of course suggests that there are buyers below, and as a result we would be buyers on a break above the top of the candle. We believe that the “floor” in this market is somewhere near the 1.28 handle, and with the oil markets looking so soft, we believe that we will break out to the upside sooner rather than later.



Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.