USDCAD Dec 05 to Dec 09 Outlook

Recap
Intervention shock messed up the markets worldwide. Support at Y-1 failed to hold as everyone was trying to get out of the door at the same time. A bottom is found at Y-2 and the retest dropped lower to a prior support zone. Closed the week above Y-2.

Outlook
B-0 is in play.

Since we do not know if the central banks are going to do more tricky announcements this week, it will be difficult to tell the direction of Loonie as it is closely related to gold price.