USD/CAD Forecast March 29, 2013, Technical Analysis

The USD/CAD pair went back and forth during the session on Thursday, eventually settling for a neutral candle. The market has found support at the 1.0150 level, but we think this is a minor area at best. We believe that the real support is down 1.01, and that is exactly where we intend on buying this market if we get the right candle. We need to see a hammer or some other type of supportive candle at the 1.01 level in order to start buying, as it would prove the previous resistance to be support. As for selling is concerned, we aren’t interested into we get below the parity level.



Written by FX Empire