The USDCAD breaks the neckline – Analysis - 12-01-2022

2022-01-12 05:21:26 GMT (Economies.com)
 

The USDCAD pair traded with strong negativity to succeed breaking the neckline of the head and shoulders’ pattern that appears on the chart and activate the negative pattern, as it surpassed 1.2590 to confirm extending the bearish wave to target 1.2480 as a next main station.

 

Therefore, we are waiting for more decline in the upcoming sessions, noting that breaching 1.2625 will stop the negative pressure and lead the price to attempt to recover again.

 

The expected trading range for today is between 1.2470 support and 1.2600 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1343
-0.0061
0.5349%
1.3608
-0.0050
0.3632%
Tadawul
12260.13
73.83
0.61%
24.093
1.081
4.695%
84.973
1.104
1.316%
88.44
0.93
1.06%
1838.535
18.075
0.993%
 
 
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