Tuesday, July 28, 2020

CAD/JPY Evaluation of Forecast for the Month of July 2020





Candlestick Set-up for uptrend. We're waiting for bullish engulfing pattern, V formation, or Hammer candlestick pattern for upward trend of candlestick. This 23 July 2020 as we forecast the trend hit the ceiling threshold of range from 79.187 to 79.626 breakout but after hitting 80.12 price level it revert back down to ceiling. At present 28 July 2020 01:05 PHT it's down to price level 78.69, with a tendency to go down further hitting the floor threshold of from 78.36 to 77.99 possible for breakdown this week, if not next week.

Timeframe: D1

Indicators Used: Rectangle, Trend Lines (Triangle Wedge), and Fibonacci

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