USDCAD Sep 19 to Sep 23 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-0 acted as support on first test but failed to hold up loonie afterwards, that opened the door to tag Y-1 and Y-2. Closed the week near Y-2.

Outlook
The strong reversal of loonie is a direct result of the news shocks from ECB and Fed.

As Fed scheduled special 2-day meeting this week and that ECB has been actively messing around with the FX markets using news shocks and such. It is a good idea to stay away from pairs like Loonie that are most likely to be impacted by their actions.

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