USDCAD Forex Analysis 12 July to 16 July 2021
Jul 9, 2021
We predicted that some choppiness for USDCAD this week. However it found conviction to the upside and broke farther up after a retest of the channel we drew for it. I think this pair is ready to break up even farther next week before finding a retrace.
BULL CASE:
If the bulls find some conviction in the coming week, we expect price to ride all the way up to the 1.2650 level before finding a retrace.
BEAR CASE:
In the event where more value is to be found by price going down. We will see the 1.225 levels be liquidated before finding some equilibrium in the price action.
