USD/CAD – Week 16 – BOC weights on the “Loonie”.
Last week USD/CAD continued to consolidate underneath the upper channel line, despite our bullish sentiment.
In the coming days. we anticipate that the price will correct until it will reach the support area, which we expect to hold. After we reached this level there is a big chance that we will start a bullish impulse that can push the price towards the $1.27 resistance area.
Wednesday will be a busy day for the “Loonie” as the BOC releases its Interest Rate decision that could act as a trigger for the move that we are expecting.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In the coming days. we anticipate that the price will correct until it will reach the support area, which we expect to hold. After we reached this level there is a big chance that we will start a bullish impulse that can push the price towards the $1.27 resistance area.
Wednesday will be a busy day for the “Loonie” as the BOC releases its Interest Rate decision that could act as a trigger for the move that we are expecting.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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