The USD/CAD pair shot higher during the session on Friday, but as you can see the market pulled back and formed a shooting star, which of course is a very bearish sign. At the end of the day though, we feel that this market is going to continue to go higher, but it is possible that we may see a bit of a pullback into the previous consolidation area. That being the case though, we simply look at this as a potential buying opportunity, and will buy supportive candles below as long as we stay above the 1.04 handle.
Written by FX Empire