The USDCAD declines again – Analysis - 16-12-2020

2020-12-16 05:19:59 GMT (Economies.com)
 

The USDCAD pair resumed its negative trades to press on 1.2700 barrier, which keeps the bearish trend scenario valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 1.2550.

 

On the other hand, we should note that breaching 1.2785 will stop the suggested decline and lead the price to start bullish correction on the intraday basis.

 

The expected trading range for today is between 1.2650 support and 1.2785 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2057
0.0004
0.0290%
1.3886
-0.0008
0.0558%
Tadawul
10228.35
-26.53
0.26%
27.347
0.828
3.122%
64.764
0.854
1.336%
68.07
-0.88
1.28%
1814.770
25.185
1.407%
 
 
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