The USD/CAD pair went back and forth during the day on Wednesday, as the market looks very exhausted at the moment. However, I would be the first one point out that there is quite a bit of support below, and of course the oil markets have been falling significantly which typically works against the value of the Canadian dollar. Ultimately, I believe that this market should then reach towards the 1.35 handle above, which has been massively resistive. At this point in time, when we pullback I think that the buyers will return and therefore a supportive candle is reason enough to go long.
![USD/CAD Forecast November 3, 2016, Technical Analysis](http://c86cb244b7aa82d722df-bc886d861d799bf6b58e79429d5ca9ac.r8.cf2.rackcdn.com/www.fxempire.com/wp-content/uploads/2016/11/usdcad-1.jpg)