USD/CAD Forecast November 7, 2016, Technical Analysis

The USD/CAD pair initially tried to rally on Friday but turned around just below the 1.35 resistance barrier to form a massive shooting star. This is a negative sign, but there are a lot of hammers just below so I think eventually the buyers return. Expect a lot of volatility over the next couple of sessions as we await the results of the US presidential election so it might be best to stay on the sidelines. With this being the case, I am waiting to see whether we get a clear-cut supportive candle below.