The USD/CAD pair fell during the session after initially going higher on Tuesday, breaking below the 1.06 handle. However, we feel that there is a lot of support below, even as low as 1.05 handle, and as a result we think that this market will eventually offer a nice buying opportunity. We are looking for some type of supportive candle in order to go long, and until then, are on the sidelines as we certainly cannot sell this overly bullish market. There is the possibility this may take some time though, as it is towards the end of the year now.
Written by FX Empire