The USDCAD rebounds bearishly after the retest – Analysis - 10-02-2021

2021-02-10 04:46:06 GMT (Economies.com)
 

The USDCAD pair provided positive trades yesterday and approached retesting 1.2780 level, but it bounced downwards strongly to settle below 1.2700 barrier, which keeps the bearish trend scenario valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our waited targets located at 1.2635 followed by 1.2590.

 

Holding below 1.2780 is important to continue the expected decline, as breaching it will lead the price to achieve new gains that reach 1.2895 initially.

 

The expected trading range for today is between 1.2620 support and 1.2760 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2064
0.0011
0.0908%
1.3899
0.0005
0.0338%
Tadawul
10228.35
-26.53
0.26%
27.326
0.807
3.045%
64.840
0.930
1.455%
68.16
-0.80
1.16%
1814.225
24.640
1.377%
 
 
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