USDCAD confirms the break – Analysis - 21-09-2018

Economies.com
2018-09-21 03:59AM UTC

The USDCAD pair managed to break 1.2923 level and close the daily candlestick below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and begins to activate the negative effect of the double top pattern that has negative targets, starting at 1.2717 and extend to reach 1.2463.

 

Therefore, the bearish trend will remain dominant, noting that breaching 1.2923 will push the price to achieve some intraday gains and test 1.3000 areas initially before any new attempt to decline.

 

Expected trading range for today is between 1.2800 support and 1.3000 resistance.

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 28-03-2024
2024-03-28 10:19AM UTC
EURUSD Trading Analysis The EURUSD price resumes its negative trading to approach our first ...