USDCAD approaches the target – Analysis - 01-12-2017

The USDCAD pair continued to rise to approach our first waited target at 1.2927, showing some slight bearish bias now affected by stochastic negativity, and it might be forced to retest 1.2820 level before resuming the bullish bias again, as the EMA50 meets the mentioned level now to add more strength to it.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by holding above 1.2820, noting that breaching 1.2927 will push the price to visit 1.3000 as a next station.

Expected trading range for today is between 1.2800 support and 1.2960 resistance.

Expected trend for today: Bullish