The USDCAD tests the main resistance – Analysis - 21-04-2021
Economies.com
2021-04-21 01:17AM UTC
The USDCAD pair rallied upwards strongly to breach the main bearish channel’s resistance that appears on the chart, which urges caution from the upcoming trading, as surpassing this level will push the price to exit the bearish channel to start bullish correction on the intraday and short term basis.
Therefore, we prefer staying aside until the price confirms its situation according to 1.2615 level, as breaching it will lead the price to achieve gains that start at 1.2740, while consolidating below it will press on the price to resume the main bearish trend that its first target located at 1.2535.
The expected trading range for today is between 1.2550 support and 1.2680 resistance.
The expected trend for today: Neutral
Forex and Currency News
Forex
Yen extends losses as Banks of Japan holds off intervention
2024-05-17 04:36AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex
Euro extends gains to two-month highs amid positive outlook
2024-05-16 08:33AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Yen gains ground as US treasury yields dip
2024-05-16 04:20AM UTC
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 17-05-2024
2024-05-17 09:10AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price provides additional negative ...
Forex
The EURUSD price forecast update - 17-05-2024
2024-05-17 09:09AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price shows additional negative trades ...
Forex
The GBPCHF repeats the attempt to exit the negative track – Forecast today – 17-5-2024
2024-05-17 07:18AM UTC
GBPCHF Price Analysis Expected Scenario The GBPCHF price returned to form new bullish ...