USDCAD begins with bearish gap – Analysis - 27-08-2018
Economies.com
2018-08-27 04:28AM UTC
The USDCAD pair ended last Friday’s trading with clear negativity to attack the bullish trend line, starting today with bearish gap that puts the price below this support, which hints that the price will face more pressure in the upcoming sessions, to activate the bearish trend scenario that its next target located at 1.2923.
Therefore, the bearish trend will be suggested for today supported by the negative pressure formed by the EMA50, noting that breaching 1.3040 and holding above it will stop the expected decline and bring us back to neutrality.
Expected trading range for today is between 1.2923 support and 1.3080 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex
Franc is best performing major currency after Swiss data
2024-05-02 07:52AM UTC
Swiss Franc rallied in European trade on Thursday, extending gains for the second straight day ...
Forex
Dollar parks at two-week highs ahead of Fed decisions
2024-05-01 11:37AM UTC
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 02-05-2024
2024-05-02 09:06AM UTC
GBPUSD Trading Report The GBPUSD price shows weak trades since morning, settling above 1.2500$ ...
Forex
The EURUSD price forecast update - 02-05-2024
2024-05-02 09:05AM UTC
EURUSD Trading Report The EURUSD price continues to fluctuate around 1.0715$ level, and we still ...
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
2024-05-02 08:15AM UTC
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...