The USDCAD loses momentum – Analysis - 18-11-2020
Economies.com
2020-11-18 05:45AM UTC
The USDCAD pair provided slight positive trades yesterday to test 1.3100 barrier, noticing that stochastic lost its positive momentum and enters the overbought areas, which forms negative motive that we are waiting to assist to push the price to resume the expected bearish trend for the upcoming period, which targets 1.3000 followed by 1.2960 levels mainly.
Therefore, the negative scenario will remain valid and active unless breaching 1.3170 level and holding above it.
The expected trading range for today is between 1.3010 support and 1.3150 resistance.
The expected trend for today: Bearish
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