The USD/CAD pair tried to rally during the session on Thursday, but as you can see failed to hang onto the gains and closed near the 1.03 handle. The shooting star is a direct contradiction to the hammer from the previous session, and as a result we think this market is essentially going to grind away in a somewhat sideways pattern. It’s not uncommon for this pair as the two economies are so interconnected, so quite frankly will just ignore this market for the time being and focus our attention elsewhere as there are much more clear opportunities out there.
Written by FX Empire