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#USDJPY weekly view
1-Double top, 114 being a though resistance, to confirm the uptrend we need a close above 114.40-50
2- Closed weekly below 114
3- Gold is oversold
Overall, It still can give one more push but I believe it needs to retrace the 61.8 Fibo (106.45)
#USDACD Daily
1- Descending Channel
2- Closed below previous key resistance 1.29
This confirm the downtrend.
My forecast is we are going to retest the previous support (Bullish engulfing) which is now a strong resistance 1.29 and if we break it then we will retest the 1.2950 - 1.30.
Notice that 100EMA & 200EMA are getting closer and might cross which could confirm...
USDCAD weekly looks nasty
1- Descending Triangle pattern formation
2- Broke & Closed below 100EMA
3- Likely to touch the 200EMA
4- Upcoming BoC decision (July 12th) with likely a rate hike so expect a lot of volatility and protect your capital
If the 200EMA brake then we will be heading to 1.1950 - 1.20
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Buyers were able to push the price up during the session, but were unable to hold it. Probably running out of steam?
The Gravestone doji in addition is a strong pattern, I will keep an eye on this setup.
