USD/CAD Forecast August 2, 2016, Technical Analysis

The USD/CAD pair initially tried to fall during the course of the session on Monday, but then turned right back around to form a very bullish candle. With this being the case, we can break above the top of the candle is likely that the market will try to reach towards the 1.3250 handle. Pullbacks should continue to have plenty of support near the 1.30 level below, and as a result I do like buying this pair, but recognize that it will be volatile. Crude oil markets look very negative, and as a result we should continue to go higher.

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