USD/CAD Forecast February 6, 2013, Technical Analysis

The USD/CAD pair had a negative session on Tuesday, almost erasing the gains from Monday. However, we sit just above a significant amount of support, and as a result we don’t see a clear path lower. As far as buying this pair though, we must admit that it doesn’t exactly look easy going up either. Because of this, we essentially feel that this marketplace is heavily congested and noisy. With that being said, we are sitting on the sidelines and waiting for some type of clear indication in this pair as to what its intentions are.


Written by FX Empire