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USDCAD approaches the target – Analysis - 16-03-2018
The USDCAD pair rallied upwards strongly yesterday to approach our main waited target at 1.3128, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, which is organized inside the bullish channel that appears on the chart, supported by the EMA50 that carries the price from below.
Therefore, we are waiting for more rise today, noting that breaching the targeted level will extend the pair’s gains on the medium term basis, while holding above 1.2923 represents the most important condition to continue the suggested bullish trend.
Expected trading range for today is between 1.3000 support and 1.3140 resistance.
Expected trend for today: Bullish
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USDJPY resumes the decline – Analysis - 16-03-2018
The USDJPY pair begins today’s trading with new bearish bias after testing the EMA50 yesterday, noticing that stochastic provides negative overlapping signal on the four hours’ time frame, which forms negative motive that we expect to assist to push the price to break 105.54 level and open the way to head towards our extended target that reaches 104.62.
MoreGBPUSD needs the positive momentum – Analysis - 16-03-2018
The GBPUSD pair continues to fluctuate at the short term bullish trend line, keeping its stability above the previously breached resistance of the correctional bearish channel, which keeps our bullish overview valid until now, supported by the EMA50, noting that stochastic negativity interprets the reasons of the current sideways fluctuation.
MoreEURUSD tests the support – Analysis - 16-03-2018
The EURUSD pair tests the key support 1.2304 and keeps its stability above it until now, accompanied by witnessing clear oversold signals through stochastic, to form positive factor that we are waiting to assist to protect the mentioned support and rebound bullishly to resume the main bullish trend.
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