Sponsors

USD/CAD Forecast January 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 08 January 2016 06:08 UTC

The USD/CAD pair initially tried to rally during the course of the session on Thursday, but turned back around just below the 1.42 level. That of course is a round number, and that of course will attract some attention. Having said that though, we ended up forming a fairly negative candle and that tells us that the market isn’t quite ready to continue going higher yet. That’s not a surprise though, because we haven’t employment numbers coming out of both the United States and Canada today, so we think eventually the buyers will come back in and push this market higher. We are buyers on pullbacks and show signs of support, and of course a break out to a fresh, new high.

USD/CAD Forecast January 8, 2016, Technical Analysis

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.

Sponsors

Subscribe to Newsletter

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