USDCAD Weekly Forecast 27th - 31st July
USDCAD has finished forming a Head and Shoulders pattern, and has successfully formed a bearish wave reaching the previous low before finding support.
We can see that the price USDCAD is currently in is a significant price of interest, forming 2 doji candles this week.
Should price be supported this week, we could wait for a retracement back to the neckline of the Head and Shoulders pattern before continuing to sell USDCAD.
However, should price break current support at the start of the week, we could then wait for a retest of this support turned resistance before selling USDCAD again.
We can see that the price USDCAD is currently in is a significant price of interest, forming 2 doji candles this week.
Should price be supported this week, we could wait for a retracement back to the neckline of the Head and Shoulders pattern before continuing to sell USDCAD.
However, should price break current support at the start of the week, we could then wait for a retest of this support turned resistance before selling USDCAD again.
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