USD/CAD Forecast February 11, 2014, Technical Analysis

The USD/CAD pair did very little during the session on Monday, but it did prove one thing: that the 1.10 level is indeed still going to be supportive. Because of this, we think that buying this market is the only way to go, and as a result that’s exactly what we are going to do. We think this market probably goes to the 1.12 level over the course of the next several sessions, and believe that there is so much support in this market that it’s almost a no-brainer trade at this point.