Tickmill’s Investing Diva, USDCAD Daily Outlook 22-07-20

<p>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.</p>
<p>Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the <a href="https://www.youtube.com/channel/UCygXlFW43dWBKnNty1s-W_g">Tickmill YouTube channel</a> and support us by liking and sharing this video with your forex trading friends.</p>
<p>On Wednesday we’ll be eying Canada’s inflation rate and the US existing home sales.</p>
<p><iframe src="https://www.youtube.com/embed/m2iP9v5Tta4" width="100%" height="481" frameborder="0" allowfullscreen="allowfullscreen" data-mce-fragment="1"><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span><span data-mce-type="bookmark"></span><span data-mce-type="bookmark"><span data-mce-type="bookmark"><span data-mce-type="bookmark"></span></span></span><span data-mce-type="bookmark"></span></iframe></p>
<p>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.</p>
<p>Unless tomorrow’s risk events really change the momentum, we could expect the pair reaching the 1.34 in the medium term.</p>
<p>Do you think the bearish momentum will continue?</p>
<p><strong>Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.</strong></p>
<p><strong>High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 76% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.</strong></p>
<p>The post <a rel="nofollow" href="https://blog.tickmill.com/fund-analysis/tickmills-investing-diva-usdcad-daily-outlook-22-07-20/">Tickmill’s Investing Diva, USDCAD Daily Outlook 22-07-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>