USD/CAD Forecast November 17, 2016, Technical Analysis

The US dollar initially rallied against the Canadian dollar returned around for a bit of a shooting star. This is a market that continues to grind higher overall though, so I’m waiting to see whether or not we get some type a supportive candle in order to go long. If we can break above the top of the shooting Star, the market then should go higher as well. I have no interest in selling this market regardless, so this is a “buy only” situation as far as I can see. Given enough time, I believe that we continue higher.