USDCAD heads to retest – Analysis - 04-10-2018

2018-10-04 03:59:04 GMT (Economies.com)
USDCAD heads to retest – Analysis - 04-10-2018
 

The USDCAD pair trades positively since yesterday to approach retesting 1.2923 level that was broken previously, accompanied by stochastic losing the positive momentum, besides that the EMA50 forms negative pressure against the price.

 

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, waiting to cover the gap that appeared by the beginning of this week before resuming the expected decline, which its next target located at 1.2717, while achieving it conditions holding below 1.2923.

 

Expected trading range for today is between 1.2800 support and 1.2940 resistance.

 

Expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1305
-0.0092
0.8081%
1.2587
-0.0116
0.9120%
14.564
-0.057
0.386%
51.211
-1.034
1.980%
60.23
-1.17
1.91%
1238.250
-9.790
0.784%
 
 
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