The USDCAD rallies downwards – Analysis - 04-12-2020

2020-12-04 05:19:43 GMT (Economies.com)
 

The USDCAD pair rallied upwards strongly yesterday to confirm the continuation of the bearish trend domination on the intraday and short term basis, and the way is open to achieve our waited negative at 1.2785.

 

The EMA50 keeps supporting the suggested bearish wave, organized inside the bearish channel that appears on the chart, taking into consideration that breaching 1.2960 will stop the expected decline and lead the price to achieve some bullish correction before turning back to decline again.

 

The expected trading range for today is between 1.2785 support and 1.2920 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2171
-0.0002
0.0152%
1.4153
0.0017
0.1174%
Tadawul
10322.68
86.96
0.85%
27.509
-0.295
1.063%
65.098
-0.294
0.450%
68.47
0.15
0.22%
1832.905
-11.320
0.614%
 
 
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