ANALYSIS USDCAD FOR WEEK 2 JULY (trading in consolidation range)
USDCAD
from the last swing high on the D1. price got to a point where it has to fill the void created by the pair USDCAD . using the fibonacci retracement price has currently filled the void,and its currently trading in a consolidation zone from (1.34904 - 1.37149)
so we either anticipate an expansion upwards to test the previous support turns resistance or an expansion downward to test the lower low i.e the next support zone
pending on the expansion. there is smart money in the consolidation range if it continues. before the market makers decide .
from the last swing high on the D1. price got to a point where it has to fill the void created by the pair USDCAD . using the fibonacci retracement price has currently filled the void,and its currently trading in a consolidation zone from (1.34904 - 1.37149)
so we either anticipate an expansion upwards to test the previous support turns resistance or an expansion downward to test the lower low i.e the next support zone
pending on the expansion. there is smart money in the consolidation range if it continues. before the market makers decide .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.