USDCAD touches the target – Analysis - 28-12-2016
Economies.com
2016-12-28 04:46AM UTC
The USDCAD pair managed to touch our waited target at 1.3574 and hovers around it now, and as we mentioned yesterday, this level forms neckline for the cup and handle pattern that appears on chart, thus, breaching this level will motivate the price to continue rising on the short term and medium term basis, paving the way to head towards 1.3837 as a next main target.
Therefore, we expect the continuation of the bullish trend domination in the upcoming sessions supported by the EMA50, unless we witnessed clear break to 1.3440 and the most important 1.3310 and holding below them.
Expected trading range for today is between 1.3500 support and 1.3670 resistance.
Expected trend for today: Bullish
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