The USDCAD begins positively – Analysis - 01-10-2019

The USDCAD pair ended yesterday’s trading below 1.3250 level, but it begins today with a bullish bias to move above this level, providing signals for the price attempt to regain the bullish trend, which makes us prefer staying aside temporarily until the price confirmed its attitude from the mentioned level.

The contradiction between stochastic positivity and the EMA50 negativity provides another reason for the neutrality, pointing that the stability of the price above 1.3250 will push the trading to 1.3286 then 1.3400 as main positive target, while the trading below it will push the price to visit 1.3200 then 1.3160 levels initially.

The expected trading range for today is between 1.3160 support and 1.3340 resistance.

The expected trend for today: Neutral