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Long

Loonie next week: BOC Meeting : Likely set new year high

FX:USDCAD   U.S. Dollar / Canadian Dollar
101 0 0
This week, the main focus regarding to Loonie is BOC             Meeting on Wednesday.

Canada officially sinks into RECESSION after two quarters GDP below 0% .

That why I believe firmly that BOC             will more dovish than usual.

-Technical Analysis:

- A bullish channel: USDCAD             is following this channel.

- RSI indicator shows a rejection benchmark 50 and moves up : Signal for bullish view.

I think USDCAD             will set new year high next week : 1.3400 I think so.
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