USD/CAD Forecast October 7, 2016, Technical Analysis

The USD/CAD pair initially rallied during the course of the session on Thursday, but turned around to form a bit of a shooting star. The shooting star is preceded by a shooting star on the previous day as well, something the markets are simply waiting to see whether or not the jobs number comes out with any type of strength. If we can get above the 1.33 level, the market then can go much higher. On the other hand, we could very well see this market dropped below the bottom of the shooting star from Wednesday, which has me looking for the 1.3050 region.

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