USDCAD loses momentum – Analysis - 15-08-2017

The USDCAD pair shows calm positive trading to approach from the key resistance 1.2739, which represents one of the next trend keys besides 1.2650 support, as the price needs to breach one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.

The contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, noting that breaching 1.2739 will push the price to extend the correctional bullish wave towards 1.2940 as a next main station, while breaking 1.2950 will complete forming bearish pattern that has the ability to push the price to return to the correctional bearish track again, to start the negative targets at 1.2413.

Expected trading range for today is between 1.2600 support and 1.2850 resistance.

Expected trend for today: Depends on the above mentioned levels