The USDCAD hits the first target – Analysis - 08-04-2020
Economies.com
2020-04-08 04:59AM UTC
The USDCAD pair succeeded to achieve our waited target at 1.4015 and closed the daily candlestick below it, which reinforces the chances of extending the correctional bearish wave, on its way to head towards 1.3813 as a next station.
Stochastic current positivity pushes the price to provide some bullish bias by today’s open, noting that the price consolidation above 1.4015 might postpone the expected decline and leads the price to achieve intraday gains that start by testing 1.4145 and might extend to 1.4264 before any new attempt to decline.
The expected trading range for today is between 1.3950 support and 1.4145 resistance.
The expected trend for today: Bearish
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