The USD/CAD Forex pair is well overdue for a bounce at the median of a long-term regression channel and the 40% Fibonacci retracement level, as shown on the Monthly chart below.
The Canadian dollar is price-sensitive to the price of WTIC Oil, so I'd keep a close eye on its action following the inaction of the participating countries to lower oil supply at this weekend's Doha meeting...Oil is -2.21 at 39.50 as I write this post on Sunday evening.
P.S. I'd also keep a close watch on the banks and DB.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Nov. 3 @ 8:30 am ET ~ Employment Data
* Wed. Nov. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Nov. 29 @ 2:00 pm ET ~ Beige Book Report
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference