USD/CAD Forecast November 4, 2016, Technical Analysis

The USD/CAD pair fell slightly during the course of the session on Thursday, but found enough support to turn things around and form a bit of a hammer. The hammer of course is a bullish sign and it now looks as if we are going to continue to go higher. Oil markets continue to fall, and if that’s the case we should eventually see this market break out to the upside in reach towards the 1.35 handle. However, today is the jobs numbers are you have to keep in mind that there is a lot of volatility just waiting to happen.

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