USDCAD approaches the target – Analysis - 28-08-2018
Economies.com
2018-08-28 04:21AM UTC
The USDCAD pair continues to decline to approach our main waited target at 1.2923, falling under negative pressure provided by the EMA50, while stochastic provides new negative overlapping signal now.
Therefore, we believe that the chances are valid to break the above mentioned level and open the way to extend the bearish wave towards more negative targets that reach 1.2800 followed by 1.2717, noting that breaching 1.3045 will stop the expected decline and push to test 1.3128 initially.
Expected trading range for today is between 1.2900 support and 1.3045 resistance.
Expected trend for today: Bearish
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