USD/CAD – Week 10 – The “Loonie” sets sights on $1.30 level.
In our previous analysis we predicted that USDCAD will head into a corrective phase, that will act as a further trigger to push the price in the coming weeks towards the $1.30 area.
This week we expect the pair to rise and face some resistance around the $1.28 area that we highlighted on our chart, but we anticipate that the price will have no problem breaking it.
Wednesday’s CPI data release for the US Dollar, followed by the Bank of Canada Interest Rate Decision could create big volatility for the pair.
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.
This week we expect the pair to rise and face some resistance around the $1.28 area that we highlighted on our chart, but we anticipate that the price will have no problem breaking it.
Wednesday’s CPI data release for the US Dollar, followed by the Bank of Canada Interest Rate Decision could create big volatility for the pair.
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.
