USDCAD Price Outlook

Economic news is expected to be the main mover of USDCAD in the coming week.There are five Canadian events in the upcoming week, including tier-1 employment releases.

IMPORTANT ECONOMIC EVENTS:
Manufacturing PMI
Raw Materials Price Index
Trade Balance
Ivey PMI
Employment Report

LOOKING FOWARD:
The US dollar is expected to remain under pressure, with possible reversals, with the US runoff election in Georgia on Tuesday. The results will determine which party will control the US Senate.

TODAY RESISTANCE:
Very simple targets of previous lows.
Target 1 - 1.2714
Target 2 - 1.26948

Comment:

TARGET 1 HIT
Stops adjusted to protect profit. No risk on if the trade is stopped from here.

..... on to TARGET 2

Comment:

TARGET 2 HIT

All profits banked before the news.

Trade closed: target reached:

Extended Daily trend profits on the chart for those still managing the trade profits.