USD/CAD Forecast September 12, 2016, Technical Analysis

The US dollar rose against the Canadian dollar during the course of the day on Friday, breaking above the 1.30 level. If we can break above the top of the candle during the day, it shows quite a bit of bullish momentum, having the market reach towards the 1.30 level. With this being the case, I also believe that pullbacks are buying opportunities as well. I have no interest in shorting, and therefore I believe that it’s only matter time before we continue to go higher. Pay attention to oil markets, they can have a massive effect on the Canadian dollar as level.