USD/CAD Forecast December 19, 2014, Technical Analysis

The USD/CAD pair fell during the course of the day on Thursday, but found the 1.16 level be somewhat supportive. Ultimately though we feel that this market should continue to go higher. Because of this, we feel that the market will continue to go higher given enough time, but recognize that we need to wait for supportive candles in order to start buying. We believe that the 1.15 level should continue to be a bit of a floor going forward, and as a result we are buying only in this market as the US dollar is the strongest currency out there.