USDCAD achieves the target – Analysis - 20-09-2018

The USDCAD pair succeeded to touch our waited target at 1.2923 and presses negatively on it now to move below it, which supports the expectations of extending the bearish wave on the short term basis, as we mentioned yesterday that breaking the mentioned level will push the price towards 1.2717 as a next main station.

Therefore, the bearish bias will remain suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, reminding you that the waited decline depends on the formation of the double top pattern that its signs appear on the chart, while holding below 1.3025 represents key condition to continue the expected decline.

Expected trading range for today is between 1.2820 support and 1.3000 resistance.

Expected trend for today: Bearish