USDCAD breaches the resistance – Analysis - 16-08-2017
Economies.com
2017-08-16 04:21AM UTC
The USDCAD pair breached 1.2739 level and settled with a daily close above it, to activate the bullish trend scenario on the intraday basis, opening the way to extend the bullish correction to target 1.2940 areas in the upcoming period.
Therefore, the bullish trend will be expected in the upcoming period supported by the EMA50, as the price is organized inside minor bullish channel that appears on chart, noting that breaking 1.2739 followed by 1.2690 levels will stop the expected rise and push the price to attempt to return to the main bearish trend again.
Expected trading range for today is between 1.2690 support and 1.2860 resistance.
Expected trend for today: Bullish
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