The USD/CAD pair initially rose during the course of the session on Monday, but turned back around just below the 1.24 level. By doing so, they ended up forming a shooting star for the day, and it still looks as if the market isn’t quite ready to make a move yet. With that, we are on the sidelines and waiting for some type of reasonable signal to follow. At this moment in time though, it does not look like a market that we want to be involved in. The fact that the oil markets are going sideways is not helping the situation either.
