USD/CAD Forecast April 21, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 21 April 2016 05:47 UTC
The USD/CAD pair fell during the day on Wednesday, breaking below the bottom of the hammer from Tuesday. This is a very bearish sign, and signifies that the sellers are most certainly still in control. It’s probably only a matter of time before this market breaks down again, so a break below the bottom of the range for Wednesday is reason enough to sell, but then again rallies the show signs of exhaustion will also be as well. It is not until we clear the 1.30 level that we feel bullish about this market again.

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