By FX Empire.com
USD/CAD rose during the week as the pair continues to chop around the parity level, with a bottom level at 0.99 or so. The pair has been very tight, and the market is almost impossible to trade on a longer-term basis. The pair hasn’t fallen during this most recent oil surge, and this is counterintuitive to normal correlations. The pair can’t be bought until the price closes above the 1.01 level, and we aren’t willing to sell the pair until we get below the 0.9750 support level. The market until then isn’t able to be traded off of the weekly charts.
USD/CAD Forecast for the Week of February 27, 2012, Technical Analysis
Originally posted here
