USD/CAD Forecast December 30, 2014, Technical Analysis

The USD/CAD pair went back and forth during the session on Monday, essentially going nowhere. With that being the case, we believe that the market simply cannot traded until we get some type of impulsive move, or better yet a pullback to find support closer to the 1.15 handle. Ultimately, we believe that the market should then go to the 1.18 handle, and that we have no interest whatsoever in selling this market as we believe the US dollar will continue to be one of the favored currencies by Forex traders around the world.