The USDCAD approaches the target – Analysis - 03-05-2022
Economies.com
2022-05-03 03:56AM UTC
The USDCAD pair showed additional rise yesterday to approach our extended target at 1.2950, showing some temporary bearish bias affected by stochastic negativity, noticing that the indicator gains the positive momentum clearly, waiting to resume the positive trades again.
Until now, the bullish trend scenario still valid as long as 1.2725 level remains intact, noting that the EMA50 continues to support the suggested bullish wave.
The expected trading range for today is between 1.2790 support and 1.2920 resistance.
The expected trend for today: Bullish
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