The USDCAD breaks the support – Analysis - 21-03-2023
Economies.com
2023-03-21 04:24AM UTC
The USDCAD pair managed to break 1.3680 level and close the daily candlestick below it, which supports the continuation of the expected bearish trend scenario efficiently for the upcoming period, opening the way to head towards 1.3500 that represents our next main target.
The triple top pattern forms negative pressure that supports the continuation of the suggested bearish bias, and breaking 1.3655 will ease the mission of achieving the waited target, taking into consideration that breaching 1.3680 followed by 1.3710 levels will stop the current negative pressure and lead the price to attempt to recover.
The expected trading range for today is between 1.3590 support and 1.3740 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Sterling loses ground under pressure from BOE
2024-04-23 07:35AM UTC
Sterling fell in European trade on Tuesday against a basket of major rivals, extending losses for ...
Forex
Dollar moves in a positive zone as US treasury yields gian ground
2024-04-22 11:41AM UTC
Dollar rose in European trade on Monday against a basket of major rivals, resuming movements in the ...
Forex
Euro gains ground and heads for $1.07
2024-04-22 07:45AM UTC
Euro rose in European trade on Monday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The EURUSD price forecast update - 23-04-2024
2024-04-23 11:05AM UTC
The EURUSD price shows sideways trades since morning, and continues to fluctuate around the EMA50, ...
Forex
The GBPCHF under the negative effect – Forecast today – 23-4-2024
2024-04-23 05:12AM UTC
GBPCHF Pair Price Analysis Expected Scenario The GBPCHF pair still affected by the ...
Forex
The EURJPY prepares for new rise – Forecast today – 23-4-2024
2024-04-23 05:01AM UTC
EURJPY Pair Price Analysis Expected Scenario No change to the EURJPY pair’s bullish ...