USD/CAD Forecast for the Week of April 23, 2012, Technical Analysis

The USD/CAD pair fell for the week, but remains stuck in the consolidation area of 1.01 to 0.9850 or so. With the recent action, it looks as if we are in one of those massive rectangles that this pair likes to form. With this being said, it is difficult to trade this pair for anything more than a short-term trade. However, a break out of this box would have us either buying or selling, depending on which direction it goes. In the mean time, we aren’t placing any long-term trades in this pair at all. 

USD/CAD Forecast for the Week of April 23, 2012, Technical Analysis
USD/CAD Forecast for the Week of April 23, 2012, Technical Analysis

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