USD/CAD Forecast for the Week of Nov. 28th, 2011, Technical Analysis

The USD/CAD pair shot straight up during the week as traders continue to buy the US dollar hand over fist. The risk profile of the markets is being reduced as the world worries about recession and debt markets. The Dollar and its safe haven status will more than likely continue to push this pair higher, but we are getting lofty at this point. The pair should prove to be a “buy on the dips” pair going forward, and the 1.07 level will be a real test. The breaking of that level to the upside sends this pair to at least 1.10, and quite possibly higher. We don’t sell this pair at the moment – there are far too many reasons to own Dollars now.

USD/CAD Forecast for the Week of Nov. 28th, 2011, Technical AnalysisUSD/CAD Forecast for the Week of Nov. 28th, 2011, Technical Analysis

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