USDCAD attempts to builds support base – Analysis - 08-03-2017
Economies.com
2017-03-08 05:23AM UTC
The USDCAD pair breached the resistance of the bullish pennant flag that we mentioned yesterday and closed the daily candlestick above it, which supports the continuation of our bullish trend expectations efficiently in the upcoming period, targeting 1.3574 levels mainly, pointing that the price begins today with slight bearish bias to fluctuate near the breached resistance.
In general, we will keep the bullish trend scenario valid on the intraday and short term basis, supported by the EMA50 unless witnessing clear break and stability below 1.3310 level.
Expected trading range for today is between 1.3310 support and 1.3500 resistance.
Expected trend for today: Bullish
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