Both the fundamental and technical suggest that the line of least resistance for the USDCAD remains to the upside. Last week’s sell-off structure still looks corrective in nature and as long as we trade above 1.3030 and more importantly above the 1.3000 big psychological number the bullish case should prevail.
The stochastic indicator suggests that the first day of the week should be slow until it reset itself. We don’t have much resistance to the upside until 1.3300 which is why we favor more the upside. The Canadian economic calendar will bring the GDP figures which will give traders more insights into how the Canadian economy performed during the last month of 2016. Based on the market consensus we should expect a pick up in the Canadian economy and see a 0.3% growth. The Fed interest rate decision is without a doubt the main risk event of the week. The market consensus only sees the Fed beginning raising rates from the second half of the year.
Previous USDCAD Weekly Forex Forecast
USDCAD Weekly Forex Forecast – 30th Jan to 3rd Feb 2017 – Bullish
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today
what time are we suppose to expect this moves and if i am to purchase your product how are you going to send it to me ?
There is nothing to buy at the moment as this is a free service.