USD/CAD Forecast November 12, 2014, Technical Analysis

The USD/CAD pair fell during the course of the day on Tuesday, but remains above the 1.13 handle. That is an area that cause quite a bit of support, and therefore we feel that we should see some type of supporting candle in this general vicinity which would be a nice buying opportunity. We believe that the market should continue to go higher, and with that being the case we are buying dips going forward as the US dollar is without a doubt the most favored currency, and that the oil markets are doing the Canadian dollar no favor.