USDCAD crawls downwards – Analysis - 14-02-2017
Economies.com
2017-02-14 05:36AM UTC
The USDCAD pair continues the decline calmly to crawl gradually towards our main waited target at 1.2985, organized within the bearish channel that appears in the above chart, and the price is under negative pressure that comes from the EMA50.
Therefore, these factors encourage us to keep preferring the bearish bias in the upcoming period, and breaking the targeted level will push the price towards 1.2700 as a next main station, while the stability below 1.3145 is important for the continuation of the expected decline.
Expected trading range for today is between 1.2985 support and 1.3100 resistance.
Expected trend for today: Bearish
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