USD/CAD Forecast April 13, 2015, Technical Analysis

The USD/CAD pair initially broke higher during the course of the session on Friday, but turned back around to form a massively bearish shooting star. At the end of the day though, we think this will simply be a pullback and with the overall consolidation looks so set. Pullbacks from here should find plenty of buyers, and therefore we are looking for supportive candles in order to go long. On the other hand, if we break the top of the shooting star we feel that the pair heads back to the 1.28 handle. We have no interest in selling.