USDCAD Daily Outlook 22-07-20 – On Tuesday we found out that Canadian Retail sales were up 18.7% in May to $41.8B, and Brent Crude Rose to Four-Month High on Economic Recovery Hopes.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Wednesday we’ll be eying Canada’s inflation rate and the US existing home sales.
Today I’m looking at the USD/CAD pair which has headed back down after failing to break inside the daily Ichimoku cloud and the key resistance level of 1.36, forming a head and shoulder bearish reversal chart pattern.
Unless tomorrow’s risk events really change the momentum, we could expect the pair reaching the 1.34 in the medium term.
Do you think the bearish momentum will continue?
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