USDCAD attacks the support – Analysis - 25-01-2019

2019-01-25 05:17:25 GMT (Economies.com)
USDCAD attacks the support – Analysis - 25-01-2019
 

The USDCAD pair opens today’s trading with clear bearish bias to press on the bullish channel’s support line that appears on the chart and moves below it now, while the EMA50 attempts to protect the price from suffering more losses.

 

Now, we prefer staying aside until the price confirms its next situation according to 1.3315, as confirming the break will press the price to decline towards 1.3200 areas initially, while stepping above it again will reactivate the bullish trend scenario that its next target located at 1.3382.

 

Expected trading range for today is between 1.3240 support and 1.3400 resistance.

Expected trend for today: Neutral

 
 
 
  Symbol Last Change Chg.%
1.1244
-0.0066
0.5858%
1.3000
-0.0080
0.6082%
15.005
0.020
0.134%
64.010
0.218
0.343%
71.97
0.35
0.49%
1275.700
-15.150
1.174%
 
 
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