Fxtoronto

what can possibly happen with loonie

FX:USDCAD   U.S. Dollar/Canadian Dollar
104 0 8
Hello traders heres my outlook on this pair. We can see that the price bounced off the 0.786 retracement which also has some good structure and a trendline right there as well. Also the MacD did show a reversal towards the upside since it made a lower low where as the price made a higher low. Now what we have to observe is how high does the price action take the price. Also to be kept in mind that the Alberta fires can have a major impact on the economy since its the center for timber and oil             extraction and canada and plays a major role in supporting the canadian economy.
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