USD/CAD Forecast May 13, 2014, Technical Analysis

The USD/CAD pair fell initially during the session on Monday, but found enough support below to bounce and form a hammer. With that, we believe that this market should continue to go higher, and head to the 1.10 level. A break above the top of the hammer is in fact that buy signals far as we are concerned, and we believe that the market will probably continue to go higher above that area as well, but is going to take a certain amount of time. Selling is not something that we are interested and at the moment based upon the bounce that we have just that.