USDCAD below the neckline – Analysis - 31-07-2018
Economies.com
2018-07-31 03:30AM UTC
The USDCAD pair closed yesterday’s trading below 1.3060 level, to keep the negative effect of the double top pattern active until now, supported by the negative pressure formed by the EMA50, waiting to resume the bearish bias that targets 1.2923 level as a next main station.
We should note that breaching 1.3128 level will stop the expected decline and push the price to start recovery attempts that target 1.3260 areas initially.
Expected trading range for today is between 1.2980 support and 1.3228 resistance.
Expected trend for today: Bearish
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