The USD/CAD pair broke higher during the course of the day on Tuesday, slicing through the 1.10 level. However, the area above that important level pushed the market back down, forming a perfect shooting star. The shooting star of course is a negative sign, but at the end of the day we feel that this market is simply going to stay within the range that it’s been in for some time, with the 1.0850 level being support. However, we feel that there is a potential short-term selling opportunity. On the other hand, if we break above the top of the shooting star, that is reason enough to continue going long.
