Currency Call Mid-Day Update (16 July 2021)

#OPINIONLEADER# #Signal#

Currency Call Mid-Day Update (16 July 2021)

Scott highlighted the following points:

- With no clear direction in the U.S. dollar index and as the week is coming to an end, stay out for now.

Jin highlighted the following point:

- The U.S. retail sales data that will be released later at 2030 (GMT+8) is expected to perform better than previous month. That may provide a boost in USD.

- Look for buying opportunities of USD/CAD above the 1.2577 level.

Daniel highlighted the following point:

- A Descending Triangle pattern is forming in progress in BTC/USD (bitcoin). Look for selling opportunities if price breaks below the pattern. If price breaks above the pattern strongly, look for buying opportunities.

- Similar to BTC/USD, a Descending Triangle pattern is also forming in progress in ETH/USD (Ethereum). If price breaks below 1830, we may see a downside continuation.

During the day, USD/CAD weakened slightly.

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