USD/CAD Forecast February 18, 2014, Technical Analysis

The USD/CAD pair did very little during the session on Monday which of course wasn’t much of a surprise with it being a holiday in the United States. Presidents’ Day is an exactly a massive one, but it is one that banks will honor. Because of this, a lot of the major players were not in the marketplace, and the fact that the USD/CAD pair is almost solely driven by North American trading, the candle for the day can be basically ignored at this point in time. With that, we still have the same analysis as we did on Friday, which is that we are buyers on a daily close above the 1.10 level and aiming for 1.12 and beyond.