The USD/CAD pair initially fell during the course of the session on Monday, but turned back around to form a massive hammer. The hammer at the top of the uptrend of course is a very positive sign, and as a result it’s only a matter of time for we continue to go much higher. The market continues to favor the US dollar of the Canadian dollar due to the situation in the oil markets, and as a result we feel it’s only a matter time before we reach towards the 1.45 handle.
