USD/CAD Forecast September 4, 2014, Technical Analysis

The USD/CAD pair fell during the session on Wednesday, but remains within the consolidation area that we have been stuck in for some time now. The candle is very negative looking – but at this point it appears that we simply cannot figure out how to get out of the rut. The Canadian and US employment numbers come out on Friday, so it is very likely that we see very little in the way of movement today. However, Friday could finally be the day that we break out and above the 1.10 level.

 

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