USD/CAD Forecast October 4, 2016, Technical Analysis

The USD/CAD pair initially fell during the day on Monday but turned right back around to form a nice-looking hammer. This was mainly due to the fact that the oil markets got a little bit of a jolt early, but gave back most of the gains. I believe this point in time that we will continue to grind higher, and a break above the hammer would be a bullish sign, and pullbacks at this point in time should be buying opportunities going forward as the US dollar continues to strengthen overall in the Forex world.