USDCAD Weekly Forex Forecast - 2nd to 6th July 2018

USDCAD Weekly Forex Forecast – 2nd to 6th July 2018

USDCAD Weekly Forex Forecast - 2nd to 6th July 2018

USDCAD Weekly Forex Forecast – 2nd to 6th July 2018

The USDCAD gives back some of the previous gains but this is something naturally with the ebb and flow of the price. Now we have formed a double top at 1.3381 which remains the key resistance level coming into the new week of trading. Only a daily break and close above 1.3381 can open the door for a retest of the round number 1.3500 and until then we can consolidate more.

The stochastic indicator has already reached oversold territory which suggest that the current retracement might soon come to an end. Last week low 1.3170 remains a good intraday support level from where we can see a reaction higher, but more importantly, we have the support level 1.3065 followed by the big psychological number 1.3000. The only notable risk event scheduled on the Canadian economic calendar is the Unemployment rate which is expected to come flat at 5.8.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 2nd to 6th July 2018


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!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments
Do NOT follow this link or you will be banned from the site!

The AllPips Trend Indicator

Trading is simple when the Trend is Your Friend.
Enter Your Details Below to Download FREE Now.

envelope-o
long-arrow-down