The USDCAD draws the negative pattern – Analysis - 11-01-2022
Economies.com
2022-01-11 04:48AM UTC
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
Forex and Currency News
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex
Franc is best performing major currency after Swiss data
2024-05-02 07:52AM UTC
Swiss Franc rallied in European trade on Thursday, extending gains for the second straight day ...
Forex
Dollar parks at two-week highs ahead of Fed decisions
2024-05-01 11:37AM UTC
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 02-05-2024
2024-05-02 09:06AM UTC
GBPUSD Trading Report The GBPUSD price shows weak trades since morning, settling above 1.2500$ ...
Forex
The EURUSD price forecast update - 02-05-2024
2024-05-02 09:05AM UTC
EURUSD Trading Report The EURUSD price continues to fluctuate around 1.0715$ level, and we still ...
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
2024-05-02 08:15AM UTC
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...