The USDCAD attempts to recover – Analysis - 17-01-2022
Economies.com
2022-01-17 05:07AM UTC
The USDCAD pair shows positive trades to approach 1.2590 level, and begins today with slight bearish bias that hints heading to resume the bearish trend, as the negative effect of the head and shoulders’ pattern still active, waiting to test 1.2480 level initially, reminding you that breaking this level will press on the price to decline towards 1.2370 as a next negative station.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 1.2590 followed by 1.2625 levels and hold above them.
The expected trading range for today is between 1.2470 support and 1.2600 resistance.
The expected trend for today: Bearish
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