USD/CAD Forecast October 27, 2016, Technical Analysis

The USD/CAD pair initially fell during the course of the session on Wednesday, but turned around to form a bit of a hammer. This is the third day in a row that we have seen a hammer, so at this point I believe that the USD/CAD pair will continue to grind higher. I believe that the “floor” in this market is the 1.32 handle, and with that being the case I feel that the market can only be bought. Ultimately, I believe that we will then go to the 1.35 handle. I believe that the market will continue to show resiliency. - 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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