USD/CAD Forecast November 20, 2013, Technical Analysis

The USD/CAD pair initially fell during the session on Tuesday, but as you can see bounced yet again from just above the 1.04 level in order to form a very bullish candle. This market is just below the 1.05 handle though, and as a result we think we will simply continue to bang around in this 100 PIP range that we’ve seen for a couple weeks out. If we get above the 1.05 handle, on a daily close that is, we think this market will continue to go higher, aiming for the 1.06 level. Above there, we think this market goes the 1.10. We have no plans on selling at this point.

 

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Written by FX Empire