USD/CAD Forecast November 5, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Wednesday, testing the top of the shooting star for the Tuesday session. This of course is a very bullish sign and we now feel that a break above the top of the range for the Wednesday session is reason enough to start buying. In fact, we think the pullback should offer support as well, so we still feel that this is a pair that simply cannot be sold at the moment. We think that the “floor” is somewhere closer to the 1.28 handle.