USD/CAD Forecast November 25, 2016, Technical Analysis

The US dollar initially rallied against the Canadian dollar during the very thin Thursday trading session, turning back around as the 1.35 level offered far too much resistance. The shooting star that form suggests that we are not quite ready to go higher in, and this of course makes sense considering that the Thursday session was Thanksgiving. A pull back to show signs of support, especially near the 1.34 handle, would be a buying opportunity. A break above the top of the shooting star would also show a resumption of bullish pressure which would have me buying as well.

USD/CAD daily chart, November 25, 2016USD/CAD daily chart, November 25, 2016