The USDCAD hits the target – Analysis - 16-09-2019
Economies.com
2019-09-16 04:54AM UTC
The USDCAD pair rallied higher strongly in last Friday to succeed to achieve the waited target at 1.3285, and begins today with a bearish gap to move near the EMA50, we expect that the price will recover in the upcoming sessions to cover the mentioned gap then breach the mentioned level to rally towards achieving more of the positive targets.
Therefore, the bullish trend will remain preferred on the intraday basis, and the next target reaches to 1.3400, taking into consideration that breaking 1.3200 then 1.3155 levels will stop the expected rise and pushes the price to decline again.
The expected trading range for today is between 1.3170 support and 1.3300 resistance.
The expected trend for today: Bullish
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