Sforex
Long

Loonie: The depreciation should halt and shift to uptrend.

FX:USDCAD   U.S. Dollar/Canadian Dollar
170 0 7
Last week, we saw BOC             kept interest rate unchanged and Canada employment report once missed the forecast with the rise of unemployment rate and the drop of employment change.

This week, main focuses are FED Meeting and Canada CPI             .

Although I keep bearish view for Dollar ahead FED meeing, but I also have a negative view to Loonie base on recent weak data: Ivey, labor market. Hence,I think the drop of USDCAD             should halt at current level and shift to uptrend.

RSI indicator indicates that it is staying in oversold zone too long and a squeeze is reasonable.

USDCAD             also holds SMA200 as good support and I expect USDCAD             bounces at this level to SMA100 around 1.3400 level.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out