USD/CAD Forecast December 4, 2014, Technical Analysis

The USD/CAD pair went back and forth during the session on Wednesday, showing that we are still fairly indecisive about where will going. However, it should also be noted that with the nonfarm payroll number coming out on Friday, it’s very likely that this market will do nothing today as well. Because of that, we are looking at pullbacks as potential buying opportunities, but ultimately really are looking to do much at this moment in time. Ultimately, if we get above the 1.15 level, we feel that the market will then break out to the upside and continue much higher.