USDCAD approaches the target – Analysis - 19-09-2018

The USDCAD pair resumed its negative trading clearly yesterday to approach our main waited target at 1.2923, which supports the continuation of the bearish bias in the upcoming sessions, as the price falls under continuous negative pressure by the EMA50, to provide chances to break the mentioned level and open the way to extend the bearish wave on the short term basis.

Therefore, we will continue to suggest the bearish trend for today conditioned by the price stability below 1.3055, noting that surpassing the above mentioned target will complete forming negative pattern that has negative targets that go further towards 1.2717 followed by 1.2463.

Expected trading range for today is between 1.2880 support and 1.3055 resistance.

Expected trend for today: Bearish