USD/CAD Forecast March 18, 2014, Technical Analysis

The USD/CAD pair fell during the session on Monday, testing the 1.1050 level. That market bounces slightly from there though, and as a result it looks like we really are going to do much in the meantime. This market looks like it’s ready to chop around and do very little, so quite frankly we are on the sidelines at the moment. We like buying this market at lower levels though, especially when we get a supportive candle. A move above 1.12 since the market to 1.15 in our eyes, which is what we believe is going to happen.