USD/CAD Two Possibilities

Jul 19, 2020

Price identified on the higher time frames indicates a price action movement towards the downside. We have now hit a supply zone and consolidation can now be observed, the market has been slow, possible causation of perhaps a Friday market. The DXY may see a short-lived upside movement towards the 4hr trend line, provided there is no high impact news that would drive it lower and then make it move lower, following the trend.

Jul 19, 2020

Note

So far price action is respecting the identified 4 hourly trend line and we expect a breakout either to the upside or downside soon enough with greater liquidity injected.

Jul 19, 2020

Note

If the DXY moves towards the upside, which as identified at the time of writing, it appears it may bounce off its support

Jul 19, 2020

Note

Sorry for the lack of coherence in the updates, trading view won't allow me to post a full paragraph.