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The USDCAD within sideways track – Analysis - 12-05-2021
The USDCAD pair fluctuates within sideways track since yesterday, settling around 1.2100 barrier, and it keeps moving inside the bearish channel that appears on the chart, while the EMA50 provides continuous negative support.
Therefore, the bearish trend scenario will remain valid for the upcoming period unless breaching 1.2170 level and holding above it, noting that our next target is located at 1.2000.
The expected trading range for today is between 1.2030 support and 1.2150 resistance.
The expected trend for today: Bearish
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The USDJPY resumes the negative trades – Analysis - 12-05-2021
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