USD/CAD Forecast November 3, 2014, Technical Analysis

The USD/CAD pair broke higher during the course of the day on Friday, but as you can see gave back about half of the gains. With that being the case, we feel that the market should continue to be bullish, but it’s obvious that they will more than likely continue to find value every time this market pulls back. We believe that the 1.12 level will be supportive, just as a move all the way down to the 1.10 level could be. A supportive candle between here and there would be a buying opportunity in our opinion.