USDCAD Weekly Forex Forecast – 17th to 21st July 2017

Close
Close
Print Friendly, PDF & Email

USDCAD Weekly Forex Forecast – 17th to 21st July 2017

The USDCAD has broken to new yearly lows reaching a 14-months low after the BOC decided to raise the benchmark interest rate from a historic low level of 0.5% by a quarter of a point. The sell-off has already reached extreme oversold conditions in multiple time frames and sooner rather than later we’re going to have a retracement. The stochastic indicator is already in oversold conditions on the 4h chart suggesting that a pull back in the coming week is very likely.


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

XM Broker

TickMill

We use both of these brokers and proudly promote them!


The USDCAD technical pattern suggests support at last week low 1.2648 but we also have intraday support at 1.2600. A daily close below these level can suggest that the downside is not yet over and we might see the bearish trend extending to 1.2500 near the 2016 low. On the upside the first level of resistance only comes in at 1.2850. The Canadian economic calendar is striped out from any major risk event that can cause a jump in the market volatility.

Previous USDCAD Weekly Forex Forecast


Thank you for your readership. We are truly grateful!

Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...

The MorningPips Trading System

The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!


USDCAD Weekly Forex Forecast – 17th to 21st July 2017

Facebook Comments


Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments

Download Our Sniper Trader Trend Following System

x