The USDCAD draws the negative pattern – Analysis - 11-01-2022

2022-01-11 04:48:51 GMT (Economies.com)
 

The USDCAD pair completed forming the head and shoulders’ pattern, waiting to break the neckline at 1.2620 to activate the negative effect of this pattern followed by rallying towards our negative targets that start by surpassing 1.2590 to open the way to head towards 1.2480.

 

Stochastic provides negative signals now to support the chances of achieving the required break, to continue suggesting the bearish trend on the intraday basis unless breaching 1.2725 and holding above it.

 

The expected trading range for today is between 1.2560 support and 1.2700 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1346
-0.0058
0.5090%
1.3610
-0.0047
0.3478%
Tadawul
12260.13
73.83
0.61%
24.138
1.126
4.891%
86.168
2.299
2.741%
87.70
0.18
0.21%
1840.250
19.790
1.087%
 
 
Live Forex Updates