The USDCAD completes the negative pattern – Analysis - 05-10-2022
Economies.com
2022-10-05 04:15AM UTC
The USDCAD pair succeeded to break 1.3600 and hold below it, to complete forming the double top pattern and activate the negative effect of this pattern, opening the way to achieve bearish correction that its first main target located at 1.3410.
Therefore, our bearish overview will remain valid and active, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1.3600 will release the price from the current negative pressure and lead to recover again.
The expected trading range for today is between 1.3450 support and 1.3600 resistance.
The expected trend for today: Bearish
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