USDCAD breaches the resistance – Analysis - 16-08-2017
Economies.com
2017-08-16 04:21AM UTC
The USDCAD pair breached 1.2739 level and settled with a daily close above it, to activate the bullish trend scenario on the intraday basis, opening the way to extend the bullish correction to target 1.2940 areas in the upcoming period.
Therefore, the bullish trend will be expected in the upcoming period supported by the EMA50, as the price is organized inside minor bullish channel that appears on chart, noting that breaking 1.2739 followed by 1.2690 levels will stop the expected rise and push the price to attempt to return to the main bearish trend again.
Expected trading range for today is between 1.2690 support and 1.2860 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
Dollar tumbles to two-week lows ahead of US growth data
2024-04-25 11:18AM UTC
Dollar fell in European trade on Thursday against a basket of major rivals, resuming losses and ...
Forex
Euro scales 16-year peak against yen
2024-04-25 07:51AM UTC
Euro rallied in Asian trade on Thursday against the yen, extending gains for the fifth straight ...
Forex
Euro parks at two-week high amid positive sentiment
2024-04-24 07:41AM UTC
Euro rose in European trade on Wednesday, widening gains for the fourth straight session and ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 25-04-2024
2024-04-25 09:42AM UTC
NZDUSD Price Analysis Expected Scenario The NZDUSD price shows new positive trades now, ...
Forex
The AUDUSD price forecast update 25-04-2024
2024-04-25 09:42AM UTC
AUDUSD Price Analysis Expected Scenario The AUDUSD price resumes its positive trading ...
Forex
The GBPUSD forecast update 25-04-2024
2024-04-25 09:42AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price rallies upwards strongly to ...