USD/CAD Forecast January 18, 2017, Technical Analysis

The US dollar fell significantly during the session on Tuesday, testing the 1.30 level. It now looks as if the market is going to try to break down and we could go below the 1.30 handle, the market should continue to go much lower. It is not until we break above the top of the candle during the session on Tuesday that I would consider buying this pair, and of course we need to see the oil market fell apart. Ultimately, I have to say that it looks like the sellers are probably going to continue to press the issue.