USD/CAD Forecast November 2, 2015, Technical Analysis

The USD/CAD pair initially tried to rally during the course of the session on Friday, but turned back around to form a fairly negative candle. Because of this, there is a significant downward pressure on this market, but we also recognize that there is a lot of noise of the 1.30 level. We believe that there is more than enough support down here to keep the market afloat, so if we get a supportive candle in this area, we are willing to start buying this market as this it makes sense that the buyers would enter at this level yet again.