USD/CAD Forecast October 14, 2016, Technical Analysis

The US dollar initially tried to rally of the Canadian dollar, but turned gray back around to form a very negative candle. By doing so, we tested the 1.32 level below, and I do believe that sooner or later the support comes back into play and therefore supportive candle gets me buying yet again. I don’t really have any interest in selling, because quite frankly there’s so much in the way of noise and support between here and the 1.30 level below. With that, I’m simply waiting to see signs of bullishness in order to go long.

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