Sforex
Long

USDCAD: Should end the Hibernation : Summer coming.

FX:USDCAD   U.S. Dollar/Canadian Dollar
144 0 1
- Fundamental Analysis
USDCAD             in fact is the most boring pair last week. It seems no one visits this pair, the volume was very low, and the volatility too.
But I think everything would change next week.
Just only one piece of Canada data next week: GDP on Wednesday, but in a week which USdollar             dominates the market; I have no choice to ignore this Canada GDP. I focus on USdollar             side.
I also know that Oil             price and Gold             price are falling down. Next week, FED surely continues tapering, and this will weight on gold             price.
Oil             price + Gold             price + positive US data definitely lift up USDCAD             . This is the pair which I am very confident. Currently, I have LONG position of USDCAD             .
- Technical Analysis
I see on the chart, last two week, U/C was trade in the tight range between 1.10 and 1.1050
This week absolutely occurs a breakout.
1.11 is the level I choose. That is a psychic level and the Ichimoku cloud there.

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