USD/CAD Forecast December 3, 2014, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Tuesday, as we continue to bounce around just above the 1.13 handle. It appears to us that we are heading to the 1.15 handle given enough time, so as a result we are buying this pair only. We believe that the oil markets looking a soft as they do, and the US dollar being a strong as it is, that is only one way that this market can go over the longer term. Eventually, we will break above the 1.15 handle, letting longer-term buyers step in as well.