USD/CAD Forecast March 3, 2017, Technical Analysis

The USD/CAD pair rallied again during the day on Thursday, breaking above the top of the shooting star from Wednesday. This is a very bullish sign, and it should send this market higher. Pullbacks should have plenty of support, and I believe that it’s only a matter of time before the buyers would get involved. Crude oil markets of course will have a massive influence on this pair, as they have been falling it should send this market higher. Alternately, the exact opposite could be true as well. We are bit overbought, so would not surprise me at all to see a pull back.