The USD/CAD pair tried to break out to the upside on Friday, but as you can see above the 1.07 level ran into a bit of trouble and ended up pulling back and forming a shooting star. The shooting stars right the middle the trading range that we have seen for some time now, so we really don’t have a trading signal, rather a sign of the lack of liquidity to come this week. Because of this, and the fact that Christmas is on Wednesday, we don’t really see much of a trade except for to buy supportive candle’s near the 1.06 level.
Written by FX Empire