USDCAD breaks the support – Analysis - 21-01-2019
Economies.com
2019-01-21 04:55AM UTC
The USDCAD pair broke the bullish channel’s support line clearly and settled below it, to complete forming a bearish flag pattern formed by this channel, which puts the price under expected negative pressure for the upcoming period, targeting heading towards 1.3128 areas mainly.
Therefore, the bearish bias will be expected for today supported by the EMA50 and stochastic, noting that breaching 1.3290 will stop the expected decline and lead the price to recover again.
Expected trading range for today is between 1.3180 support and 1.3335 resistance.
Expected trend for today: Bearish
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