What’s Next for the Loonie?
Source: VantagePoint Intermarket Analysis Software
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- The market decreased by 270 ticks
- 270 ticks = $2,700 per contract (About 7 trading days)
- When the blue line (forecast) crossed below the black line (actual), VantagePoint predicted the market to trend down. The Neural Index at 0.00 also indicated an expected down trend.
- The Canadian dollar is the seventh most traded currency.
- Oil prices greatly affect the Canadian dollar, as Canada is one of the world’s largest oil producers.
