USD/CAD shot straight up again on Wednesday as the oil markets fell. However, the late day risk rally turned things around to produce a wicked shooting star at the 1.03 level. This could have the market selling in the short term, but we only see this as a pullback from which to buy over the next couple of sessions. A supportive candle above 1.01 has us buying.
The USD/CHF pair ran into the 0.96 level on Wednesday to find serious resistance. The pullback that should be coming will more than likely end up being a buying opportunity, and we are treating it as such.
Create a FREE account