USD/CAD Forecast July 3, 2015, Technical Analysis

The USD/CAD pair tried to break down during the session on Thursday, but pullback to form a bit of a shooting star. The shooting star of course is a fairly negative candle but at the end of the day we think this is just simply going to be a bit of a pullback. A break below the bottom of the shooting star, we believe that the market will probably head back towards the 1.24 handle. On the other hand, if we broke the top of that shooting star, that would be a very bullish sign.