USDCAD approaches the target – Analysis - 06-04-2018
Economies.com
2018-04-06 03:55AM UTC
The USDCAD pair crawls downwards gradually to approach our waited target at 1.2717, and the negative effect of the head and shoulders’ pattern still active, which supports the chances of breaking the mentioned level to open the way to extend the bearish wave towards 1.2500 followed by 1.2463 as next main targets.
The EMA50 keeps supporting the expected bearish wave, which will remain valid unless the price managed to breach 1.2923 level and hold above it.
Expected trading range for today is between 1.2660 support and 1.2840 resistance.
Expected trend for today: Bearish
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