Sforex
Long

USDCAD NEXT WEEK.

FX:USDCAD   U.S. Dollar / Canadian Dollar
266 0 4
Last week, we saw a big sell-off force in U/C. U/C fell down 5 consecutive days without break. This could be explain if you look at Weekly chart. There is a divergence between price and Stoch + RSI indicators. Thus, it's easy to understand why U/C fell sharply last week.

This week,with a lot of economic data from both USA +Canada, the trend of U/C will be confirmed.

The main economic data of Canada this week :
- Canada GDP on Monday
- Net Change in Employment + Unemployment Rate + Ivey PMI on Friday

However, this week has a lot of US economic data, and the question is what data the market chooses to react.

Currently, USDCAD             reached two main trend lines I show on the chart.

In RSI indicator, it also reached its support.

If you still believe in bullish trend of USDCAD             , this is time to BUY USDCAD             again.

I will try to LONG USDCAD             to catch up US economic data.
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