The USDCAD attempts to recover – Analysis - 22-10-2020

2020-10-22 03:53:43 GMT (Economies.com)
 

The USDCAD pair trades with clear positivity to reach the key resistance at 1.3180, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum to show clear overbought signals now.

 

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 1.3035 followed by 1.2960 levels as next main stations, noting that breaching 1.3180 will push the price to turn to rise and achieve additional gains that start at 1.3240 and extend to 1.3362.

 

The expected trading range for today is between 1.3090 support and 1.3220 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2097
0.0032
0.2636%
1.3606
0.0057
0.4192%
Tadawul
8931.29
52.57
0.59%
25.165
0.260
1.042%
52.258
-0.042
0.080%
54.75
-0.36
0.65%
1837.570
1.455
0.079%
 
 
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