Predictions for USD/CAD week commencing 29th June 2020

28 Jun 2020

First post here so any feedback most welcome. There will be a much better understanding of where price is likely to go in the first couple of days this week.

GREEN - Ideal Set Up
RED - Secondary Set Up

1 (Green).
We form a bull flag just above the current double top area to continue to the upside as we have seen over the last few weeks. If this happens then I am then looking to see how price behaves around the upper trendline. If we get a rejection and then a hover I will be taking a risk entry to the downside and look to hold all the way down to the start of the corrective structure around 1.33282.

2 (Red).
Price rejects again from the current double top resistance area at 1.36853 before a move down of which I will look to take a reduced risk entry on the first bear flag. The reason for this is this could just be a correction on the continuing uptrend channel which I do not want to be on the wrong side of.