The USD/CAD pair had a wild day on Friday as the market sold it off, and then bought it later. The resulting candle looks somewhat similar to a hammer, but is in the middle of consolidation. The oil markets have been rocked back and forth, and as a result – this pair seems like it doesn’t know what to do. We have two important levels that we are watching: parity and 0.98. If either one of those areas get broken on a daily close – we are trading in that direction.
Written by FX Empire