The USD/CAD pair surged during the Friday session as we closed above the 0.99 handle for the first time in roughly 2 weeks. The markets continue to stay under parity though, and as a result we think that overall this is a bearish market. However, we have obviously seen a bit of a spike in this pair on Friday that simply reminds people that the market can and will pullback from time to time. But as you’ll notice, the candle for the Friday session gave up quite a bit of the gains towards in the day. That being said, we are still bearish of this market and willing to sell it here.
Written by FX Empire