USDCAD within sideways track – Analysis - 07-08-2018

Economies.com
2018-08-07 04:18AM UTC

The USDCAD pair fluctuates within sideways and tight track in the previous sessions, keeping its stability below 1.3060 level, to keep the negative effect of the double top pattern active, waiting to test 1.2923 level initially, noting that breaking this level will push the price towards 1.2717 as a next main station.

 

In general, the bearish bias will remain dominant unless we witnessed clear breach to 1.3060 and 1.3128 levels and holding above them.

 

Expected trading range for today is between 1.2900 support and 1.3060 resistance.

 

Expected trend for today: Bearish

Forex and Currency News

EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
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 ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...