USDCAD is stable – Analysis - 16-01-2017

Economies.com
2017-01-16 05:10AM UTC

The USDCAD pair settles around 1.3140 level, keeping its stability below the previously broken support of the bullish channel that turns into key resistance now at 1.3185, which keeps the negative scenario valid until now, supported by the negative pressure formed by the EMA50.

 

Therefore, we are waiting for more decline in the upcoming period, and the main target is represented by testing 1.2985, noting that breaching 1.3140 level will stop the current decline temporarily and lead trading to visit 1.3310 level before any new negative attempt.

 

Expected trading range for today is between 1.3020 support and 1.3220 resistance.

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...
USD/JPY news

Forex

Japan sends the stronger warning after yen crashes to 34-year nadir
2024-03-27 08:50AM UTC
Yen tumbled in European trade on Wednesday against a basket of major rivals, sharpening losses for ...
AUD/USD news

Forex

Aussie is worst performing G8 currency after inflation data
2024-03-27 05:33AM UTC
The Australian dollar fell in Asian trade on Wednesday against a basket of major rivals on track ...

Forex Technical Analysis

EUR GBP Analysis

Forex

The EURGBP settles below the resistance – Forecast today – 28-3-2024
2024-03-28 05:37AM UTC
EURGBP Pair Analysis and Forecast Expected Scenarios New negative close below the bearish ...
EUR JPY Analysis

Forex

The EURJPY leans above the major support – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
EURJPY Pair Analysis and Forecast Expected Scenarios Stability above the bullish ...
GBP JPY Analysis

Forex

The GBPJPY repeats the negative closings – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
GBPJPY Pair Analysis and Forecast Expected Scenarios Weak trades yesterday with fluctuation ...