This week, the main focus regarding to Loonie is BOC Meeting on Wednesday.
Canada officially sinks into RECESSION after two quarters GDP below 0% .
That why I believe firmly that BOC will more dovish than usual.
-Technical Analysis:
- A bullish channel: USDCAD is following this channel.
- RSI indicator shows a rejection benchmark 50 and moves up : Signal for bullish view.
I think USDCAD will set new year high next week : 1.3400 I think so.
Canada officially sinks into RECESSION after two quarters GDP below 0% .
That why I believe firmly that BOC will more dovish than usual.
-Technical Analysis:
- A bullish channel: USDCAD is following this channel.
- RSI indicator shows a rejection benchmark 50 and moves up : Signal for bullish view.
I think USDCAD will set new year high next week : 1.3400 I think so.