13.05.26 Daily Forecast

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13.05.26 Daily ForecastUS Dollar/Canadian DollarFX:USDCADJordanWillsonPairs on Watch - USDCAD : This pair is now sat at the area of value on the higher timeframe where the shorts could come into play. We can see a 4H rejection at the highs but slightly running out of steam through Asia. There is a clear area of value on the 15M we can work with to see if we get a risk entry short for this to continue selling, if it does not hold there is a chance we could actually get long into the next high above for a deeper pullback before sells come in. NZDUSD : Price is still building volume within the higher timeframe 123 move to the upside, and with some pattern separation we can see a 123 drive into the low. I will be waiting for an insurance entry from this base for the longs, this is a lot of volume that has been building so must also be aware that if the DXY heads long we could be looking at a sell structure below the base. GBPUSD : Price is sat at the bottom of a range where it sold into yesterday with a lot of momentum, however with the DXY still in a position where it could sell I am not writing off the longs here. I am waiting for price to break above the ray line and use that as my line in the sand, if it breaks and gives a flag above I will look to get long. If not, I am sitting tight and letting price develop a little more in this area so not to get caught in any traps.