USDCAD

15 Tem 2023

USDCAD

What Next For Usdcad In The 3rd Week Of July?


Weekly Bias:

To understand and know what the weekly bias is or will be, one has to take into considerations all the previous and current price action activities within our current price range.

Bullish Supporting Sentiments:





Major Range= Bullish
Price At Discount level
Price At Bullish OB
Week Candle Close: Shows Bullish Reaction at OB

Price Movements: Price has been respecting the bullish range order blocks mid-threshod for two years now.

Liquidity Draw:


FVG Above Current Price
3 Old Highs
2 Equal Highs

Bearish Bias Supporting Sentiments:




Minor Range= Bearish

Reaction off bearish fvg

Liquidity Draw= Old Lows

Possible liquidity grab below old lows to take out sellside liquidity before continuing the bullish move.

Summary:

Price has more reason to be bullish in the 3rd week of July and comings weeks than bearish.

There are two main reason price might be bearish in coming weeks, which are either for a sellside liquidity grab or complete reversal of the trend.

However, I will be favouring buys for now till there is a complete shift in market structure.

What do you see on your charts?

Drop your comments.

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