Sforex
Long

LOONIE: PIERCE TREND LINE + KUMO CLOUD+ SMA100

FX:USDCAD   U.S. Dollar / Canadian Dollar
162 1 0
Two main reasons for the rally of USDCAD             today are:

- Canada GDP contracted to -0.1%
- The appetite for safe haven currency: Greenback.

Look at on the chart:

- USDCAD             broke three main resistance:
+ Kumo cloud ( Move above the cloud)
+ Brearish trend line .
+ SMA100

Catalyst from both Fundamental and Technical Analysis contruct the bullish view for USDCAD             , I think this trend should be continue.

No major Canada data this week, while we still wait more US data: ADP report, ISM PMI, + Payrolls before the Independence Day: I KEEP BULLISH BIAS FOR USDCAD             .
Good idea Bro, I hope you are right. I already bought
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