USD/CAD Forecast May 6, 2016, Technical Analysis

The USD/CAD pair initially fell during the course of the day on Thursday, but turn right back around to form a bit of a hammer. We are approaching the 1.30 level, and what will be interesting today is that we get employment numbers not only out of America, but also Canada as well. This should lead to an extreme a lot of volatility in this pair, and fact that this could be “the place” to be as far as granting trading is today. If we can get above the 1.30 level, the market should continue much higher. On the other hand, and exhaustive candle should be a selling opportunity.