USD/CAD Forecast November 4, 2014, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Monday, as we continue to test the 1.14 level. With that being the case, the market appears as if it’s ready to continue going higher, and that pullbacks should continue to offer buying opportunities going forward as the US dollar is without a favored currency by Forex traders around the world. With that, we believe that ultimately this market will then go to the 1.15 level, and then probably much higher than that. We have no interest whatsoever in selling this market.