The USD/CAD pair went back and forth during the session on Friday, in reaction to the nonfarm payroll numbers. This market looks like it’s essentially ready to go sideways for a little while longer, and the 1.06 level continues to be supportive. That being said, we like buying supportive candles closer to that handle, or a break above the shooting star from the Friday session. Because of this, we essentially are “buy only” in this pair, and will continue to be until we get below the 1.05 handle on a daily close.
Written by FX Empire