USD/CAD rose during the Wednesday session, but the latter hours saw the pair falling. Because of this, it looks like the parity level is going to be very difficult to break above for any length of time. The pair looks like it is going to consolidate even longer in this current area. (0.98 to 1.00) Until we break out of that range, we feel this market will be better suited for scalping at the extremes of the range. A break above parity has us massively bullish, and break below the 0.97 level has us massively short.
About the FX Empire:
The FX Empire is dedicated to providing the most expert and timely technical and fundamental analyses to our readers. Coupling those with our Forex broker overviews and our Forex news updates assists our readers in making the best possible financial decisions for themselves. Our readers are among the best informed in the market, everyday.
Check out the latest Brokers Reviews by FX Empire: CMC Markets Reviews, Dukascopy Reviews, Easy-Forex Reviews.
