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USDCAD loses momentum – Analysis - 20-10-2017
The USDCAD pair shows some slight bullish bias now after testing the key support 1.2470, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, which forms negative motive that we are waiting to assist to push the price to resume the bearish bias again.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, and breaking 1.2432 will ease the mission of heading towards our main targets that begin at 1.2300 and extend to go further towards 1.2061, noting that holding below 1.2565 represents the most important condition to achieve the suggested targets.
Expected trading range for today is between 1.2400 support and 1.2565 resistance.
Expected trend for today: Bearish
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USDJPY approaches from the first target – Analysis - 20-10-2017
The USDJPY pair resumes its bullish rally strongly now after leaning on the EMA50, to reach the thresholds of the first waited target at 113.44, motivated by the positive overlapping signal that appears on stochastic, waiting to breach the mentioned level to confirm extending the bullish wave towards 114.50.
MoreGBPUSD attacks the key support – Analysis - 20-10-2017
The GBPUSD pair begins today's trading with clear negativity to attack the key support 1.3096 after yesterday's trading stability below the bullish channel's support that appears on chart, which hints the price head to suffer more losses in the upcoming period, noting that confirming breaking the mentioned support will push the price towards 1.2973 direct.
MoreEURUSD begins negatively – Analysis - 20-10-2017
The EURUSD pair opens today's trading with bearish bias after attempting to breach the resistance line that appears on chart, to keep the bearish trend scenario suggested in the upcoming sessions, supported by the overbought signals that appear through stochastic, waiting to head towards 1.1679 level mainly.
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