USDCAD Long-Term Technical Forecast
The USDCAD is another example of a momentum extreme occurring along with the price extreme. Price is testing a resistance line right now and there is potential for a top and reversal (especially since the rally from .9055 is in 3 waves, two of which are separated by a triangle). Former support at 1.0927 should remain intact.
USDCAD Fundamental Outlook/Interest Rate Forecast
Interest rate markets predict that the Bank of Canada will cut interest rates by nearly the same amount that the US Federal Reserve will raise them in the coming year—dealing a double-whammy to the recently downtrodden Canadian dollar. Indeed, rate forecasts show expectations of a 116 basis point improvement in the US dollar’s yield differential against the Canadian dollar, and such forecasts give us a bullish bias on the USDCAD pair.
USDCAD Forex Sentiment Outlook
Forex Futures Data Suggests USDCAD May Top through Short Term Forex Trade
