The USDCAD tests the support base – Analysis - 01-02-2021

2021-02-01 05:01:46 GMT (Economies.com)
 

The USDCAD pair bounced bearishly after approaching 1.2895 level, to test the key support base 1.2780, noticing that the EMA50 meets this support to add more strength to it, while stochastic gains the positive momentum clearly.

 

Therefore, we believe that the chances valid to resume the correctional bullish trend, which its next target located at 1.2945, noting that the expected rise requires holding above 1.2780 and 1.2700 levels.

 

The expected trading range for today is between 1.2720 support and 1.2860 resistance.

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.2057
0.0004
0.0336%
1.3888
-0.0006
0.0425%
Tadawul
10228.35
-26.53
0.26%
27.335
0.817
3.079%
64.762
0.852
1.333%
68.12
-0.85
1.23%
1814.735
25.150
1.405%
 
 
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