The USD/CAD pair went back and forth on Friday, initially trying to break out but finding the 1.10 level too resistive yet again and formed a shooting star. The shooting star courses negative, but we do not look at it as a selling opportunity. We believe that this is a pullback to the 1.09 level waiting to happen, and that a buying opportunity below will happen. We are simply on the sidelines right now waiting for supportive candle below, or a daily close above the 1.10 level in order to start buying again.
