USD/CAD Forecast October 25, 2016, Technical Analysis

The USD/CAD pair rallied slightly during the day on Monday, as we continue to see bullish pressure in this market and the Canadian dollar continues to fall as energy markets are looking a bit heavy at this moment. I believe that the 1.32 level below is essentially the “floor” in this market, and that we are trying to reach towards the 1.35 handle above. Short-term pullbacks continue to offer short-term trading opportunities again and again. Granted, we are a bit overextended at the moment, but I think sooner or later the buyers will return every chance they get. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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