The USD/CAD pair had a fairly negative session but bounced enough at the end of the day on Thursday to form a nice-looking hammer. However, with today been nonfarm payroll number in the United States, and Canadian employment numbers coming out at the same time, this market could be the place to be. If we get a strong US number and a poor Canadian one, we could go higher and perhaps aim for the 1.10 level. That is the tree that we prefer, and if we get that we believe that the momentum could eventually pushes market up and above that 1.10 level. On the other hand, if we get a bit of a disappointment, we suspect that any fall from here could be a buying opportunity given enough time.
