USDCAD resumes the decline – Analysis - 20-06-2016
Economies.com
2016-06-20 00:45AM UTC
The USDCAD pair bounced lower clearly after retesting 1.2985 level, to keep its stability within the main bearish trend that appears in the image, waiting for heading to 1.2459 that represents the next main target for the current bearish wave.
The EMA50 forms negative pressure against the price, while it might witness some temporary sideways fluctuation affected by stochastic current positivity before it return to decline again, pointing that holding below 1.2985 represents the most important condition for the continuation of the suggested scenario.
Expected trading range for today is between 1.2725 support and 1.2950 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex
Sterling starts recovering after hot UK inflation data
2024-04-17 06:43AM UTC
Sterling rose in European trade on Wednesday for the first time in four days against the dollar, ...
Forex Technical Analysis
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...
Forex
The EURJPY faces the negative pressures – Forecast today – 19-4-2024
2024-04-19 08:16AM UTC
EURJPY Pair Analysis Expected Scenario Despite strong negative pressures this morning due ...
Forex
The GBPJPY holds above the support – Forecast today – 19-4-2024
2024-04-19 08:15AM UTC
GBPJPY Pair Analysis Expected Scenario The GBPJPY pair experienced sudden negative ...