The USD/CAD pair went back and forth during the session on Wednesday, showing real indecisiveness in this marketplace. The market has a 100 PIP range roughly at this point time, and that being the case the market appears like it’s very sideways and should continue to be so. The market breaking above the 1.05 level is what we are looking for in order to buy and hold onto a longer-term trade, especially if we get above 1.06 which should show the market going to the 1.10 level. As far as selling is concerned, we have no interest in doing so at the moment.
Written by FX Empire