The EURCAD hits the first main target – Analysis – 3-5-2021

The EURCAD pair formed strong negative attack recently, affected by the frequent negative pressures, achieving the first main target by reaching 1.4760, while there’s a big chance to form some sideways fluctuation until breaking this support to manage to resume the bearish attack and reach the additional stations at 1.4710 and 1.4650.

Also, stochastic crawl towards the oversold areas to increase the chances of gathering the additional negative momentum, to confirm keeping the domination of the bearish bias for the near term and medium term trades.

The expected trading range for today is between 1.4830 and 1.4710

The expected trend for today: Bearish