USDCAD breaches the resistance – Analysis - 09-08-2017
Economies.com
2017-08-09 03:44AM UTC
The USDCAD pair ended yesterday's trading above the bearish channel's resistance that appears on chart, which leads the price to start bullish correction on the intraday basis, and the price needs to breach 1.2739 to confirm extending the bullish wave towards 1.2940 areas as a next main station.
Therefore, the bullish trend will be suggested in the upcoming sessions supported by the EMA50 and stochastic positivity, noting that breaking 1.2605 will stop the expected rise and push the price to return to the bearish trend again.
Expected trading range for today is between 1.2605 support and 1.2800 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
The Australian dollar shines and the Japanese yen collapses!
2024-04-28 18:43PM UTC
Market Updates on Foreign Currencies The Australian currency tops the list of winning ...
Forex
Yen swoons by over 1% after BOJ decision
2024-04-26 18:30PM UTC
Yen tumbled against most major rivals on Friday following the Bank of Japan’s policy ...
Forex
Sterling surges to 16-year peak against yen
2024-04-26 08:11AM UTC
Sterling rose in European trade on Friday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
End of day EURUSD price forecast update - 26-04-2024
2024-04-26 16:36PM UTC
The EURUSD price is facing strong negative pressure to break 1.0715$ level and attempts to hold ...
Forex
The GBPUSD forecast update 26-04-2024
2024-04-26 10:59AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price shows some slight bearish bias ...
Forex
The EURUSD price forecast update - 26-04-2024
2024-04-26 10:58AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price settles above 1.0715$ level, ...