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USD/CAD Forecast December 1, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 01 December 2015 05:21 UTC

The USD/CAD pair initially fell during the day on Monday, but turned back around near the 1.33 level to bounce and form a bit of a hammer. This hammer of course is a bullish sign and therefore we feel it just shows that the US dollar is continuing to try to build up enough pressure to break out to the upside finally. However, we expect a very quiet market for several sessions, as both the United States and Canada release employment figures on Friday, which means the market will more than likely be waiting for that information.

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