Rocketman

Canadian Currency Fundamental and Technical Analysis: Mind Maps

FX_IDC:CADUSD   Canadian Dollar / U.S. Dollar
45 0 3
My Fundamental Bias of the Canadian Economy and its Currency:
The Canadian currency is in a strong position with GDP growth at 2% annually. Its annual GDP will reach 2.2% by 2017. It is currently in the late stages of a recession. Its export market is growing. CPI             is expected to grow as the effect of falling gas prices fades and their capacity to produce grows. I expect a gradual increase in rates in late 2016!!!

So, this new economic expansion for Canada, we be being born right in front of our eyes.

Technical Plan:
I am watching the price fall, here is where I want to attack the market. If oil             drops, and the Canadian currency falls to these levels, this is the plan:

(1) The Primary pathway: Buy Canadian dollar             against the US Dollar             when it reaches 0.7480 and 0.7430. Anticipating a bounce in the Canadian Dollar             from there.
***Of course, it is normally traded as USDCAD             , so the prices will NOT be the same.

Then, be vigilant to see, if a bounce occurs, that the bounce doesn't turn around and fall back down.

(2) The Alternate Pathway: If the bounce fails at resistance from, the go to the alternate pathway. I do not believe that this will occur, but keeping eyes open to the possibility.

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