USD/CAD Forecast March 18, 2016, Technical Analysis

The USD/CAD pair fell significantly during the course of the day on Thursday, and even broke below the 1.30 level at one point. Having said that, the market turned back around to bounce above that level, and with that being the case a break above the top of the hammer for the session would be reason enough to start going long. This would be especially true if oil markets fell again, and that’s essentially what we need to see in order to start buying this pair as it should continue to go towards the 1.34 handle.