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
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