USDCAD retests successfully – Analysis - 05-04-2018
Economies.com
2018-04-05 04:11AM UTC
The USDCAD pair retested the broken neckline of the head and shoulders’ pattern that appears on the chart and rebounds bearishly from there, which reinforces the expectations of continuing the bearish trend in the upcoming sessions, as the price approaches touching our first waited target at 1.2717.
Therefore, the bearish trend will remain valid in the upcoming period as long as 1.2923 remains intact, reminding you that breaking 1.2717 will push the price towards 1.2500 followed by 1.2463 levels as next main stations.
Expected trading range for today is between 1.2670 support and 1.2820 resistance.
Expected trend for today: Bearish
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