USD/CAD Forecast June 10, 2016, Technical Analysis

The USD/CAD pair rallied during the day on Thursday, but gave back a little bit of the gains towards the end of the day. The oil markets pulled back, so it makes sense that we did get a bit of a rally over here. Ultimately though, this is a market that is going to selloff given enough time, as oil markets have broken out significantly. Short-term rallies should offer short-term selling opportunities based upon exhaustive candles. I don’t have any real interest in buying this pair right now, and as a result this is essentially “sell only” as far as I can see.