USD/CAD Forecast December 9, 2014, Technical Analysis

The USD/CAD pair fell initially during the course of the session on Monday, but turned back around to show strength. We tested the 1.15 handle, but did not break above it quite yet. We feel that sooner or later the market will do that, and that will be the signal to start going long again. It’s probably only a matter of time before we break out and go even higher, and we believe the pullbacks will continue to offer value as the US dollar is by far the most favored currency dollars in the Forex markets.