USD/CAD Forecast September 4, 2013, Technical Analysis

The USD/CAD pair fell during the session on Tuesday, but as you can see the 1.05 level continues offer support. This market looks like it’s going to continue higher, but is going to be a bit of a fight, and we do not feel that it’s safe to go long into we get above the 1.06 handle.

Between now and then, we think this market will continue to chop around, and we have plenty of support all the way down to the 1.04 level, and as a result we are in a “buy only” phase, and therefore are looking for supportive dips in order to go long.




Written by FX Empire