The USD/CAD pair fell during the session on Wednesday as you can see, but remains above the 1.03 level. It is because of this that we aren’t quite ready to start selling yet, and as a result are simply sitting on the sidelines. We think that the next 24 hours or so could be very important in this market, and it cannot be lost that we have broken the bottom of a hammer. Because of this, we feel that the market is probably leaning towards the very side, but we do not have a clearance of the 1.03 level quite yet, which of course makes us a bit hesitant.
Written by FX Empire