Commentary on the USD/CAD

Forexmentor.com Forex Trading Price Action

The USD/CAD pair seems to be bucking the overall trend of oil prices, which is down. Oil has not yet cracked the $60-dollar mark. Plus which, the futures price still has to fill the gap it left behind recently. That would see a pull-back in that market, and an attendant rise in the pair in the forex market. Only time will tell, but we could be at a turning point, in that the pair is oversold, and a rebound is inevitable.

I am still fully invested in the pair, but am looking for a point to take half my profits, which would be on a reversal of the recent slide. Next week, I’ll try to cover other currencies, like the Aussie, euro, kiwi, pound, etc. In the meantime, keep www.forexmentor.com in mind for all your forex training needs.

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