USD/CAD forecast for the week of April 25, 2016, Technical Analysis

The USD/CAD pair broke down during the course of the week, slicing below the bottom of the hammer from the previous week. With that being the case, the market looks as if we could see continued bearish pressure, but there is quite a bit of support just below. With this being the case, it’s probably best to trade this market off of short-term charts, and not try to hang onto any type of longer-term move as there should be plenty of volatility in this general vicinity. With this, we will look for short-term trading opportunities.