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USDCAD breaches the resistance – Analysis - 06-03-2018
The USDCAD pair breached 1.2923 level clearly and settled above it, which pushes the price to extend the bullish wave on the short term and medium term basis, paving the way to head towards 1.3128 as a next main station.
Therefore, the bullish trend will be expected in the upcoming sessions, it might be preceded by some temporary decline to retest 1.2923 level before heading towards the above mentioned target, noting that breaking this level will stop the expected rise and push the price to decline again.
Expected trading range for today is between 1.2900 support and 1.3060 resistance.
Expected trend for today: Bullish
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USDJPY retests – Analysis - 06-03-2018
The USDJPY pair traded with clear positivity yesterday to retest the previously broken support line that turns into key resistance now at 106.35, accompanied by witnessing clear overbought signals through stochastic, while the EMA50 forms negative pressure against the intraday and short term trades.
MoreGBPUSD tests the resistance – Analysis - 06-03-2018
The GBPUSD pair tested the key resistance 1.3854 and keeps its stability below it until now, as the EMA50 meets this level to add more strength to it, while stochastic moves at the overbought areas now.
MoreEURUSD awaits the confirmation – Analysis - 06-03-2018
The EURUSD pair continues to fluctuate between the key levels represented by 1.2304 support and the resistance line that rises now to 1.2420, thus, we will continue with our neutrality until the price succeeds to breach one of the mentioned levels, noting that stochastic reaches the overbought areas now to contradict the EMA50 positivity.
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