Video Analysis – USD/CAD January 21, 2015

Looking at the upcoming January 21 trading session, I have the USD/CAD pair. We have broken out during the session on Tuesday, firing off a buying opportunity. We broke above the shooting star from a couple of sessions ago, so it appears that we are beginning the next leg higher.

Keep in mind that this pair does tend to be somewhat volatile and choppy, so you will have to look at this from a longer-term perspective in order to hang onto the trade in order to get the maximum profits out of this pair. I see significant support all the way down to the 1.18 level, and I believe that we are eventually going to head to the 1.25 handle. At the end of the day, this is a pair that is most certainly in an uptrend, so I like this move as it does continue what we have already seen.