Volumetric analysis on July 11.
Instrument bounce in the price range of 1.1752-1.1790 and 1.1695-1.1670 as boundaries. To determine in which direction the output of the price will be difficult, since the volume that was traded in this outset is quite large. And this can be both the strength of buyers and sellers. Make trading decisions correctly after the price comes out of the outset. And if it is going up, then the goals can be taken far away. If down, then mark at 1.1620 is the place where, most likely, will be a reaction to the fall.
The picture is similar to the European currency chart. The price of GBPUSD is also in the range with the boundaries of 1.3300-1.3360 and 1.3232-1.3190. Trading in the outset of the range is possible, but, usually it is difficult and it will be more correct to wait for any impulse. Moreover, a small political crisis in England might cause the volatility soon.
Today is the Bank of Canada interest rate decision and the fact that the forecast value of 1.5, says that this rate is already represented in the price. Even its immediate increase will not lead to a strong fall in the USDCAD pair. However, we will expect that any event and publication will not be unexpected for market participants, and the trend will not be broken, and therefore the price will not rise above 1.3225.
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