USD/CAD Forecast March 4, 2013, Technical Analysis

The USD/CAD pair attempted to rally during the session on Friday, but as you can see gave back all of the gains and then some. This market has been very strong lately, and on the weekly chart looks very strong. However, the weekly candle does show a shooting star, so pullback is very likely. With all that being said though, we prefer that the market fall back towards the 1.01 level where we think significant support will be. With that being said, we would buy supportive candles below the current level that the market trades that.



Written by FX Empire