RobertSoos
Long

USDCAD - in descent for 11 weeks, time to go long?

FX:USDCAD   U.S. Dollar / Canadian Dollar
With oil             prices rebounding flow towards commodity currencies was evident. While guessing Crude oil             tops is pointless, after 11 weeks and more than 11 % appreciation loonie might be at a resting point.

The Canadian government is to anounce its fiscal stimulus, I believe most positive factors are already priced in, hence I am trying to go long at the weekly 61.8% fib retracement level, trying to get around 3% nominal move.
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