USDCAD pushes on the support – Analysis - 05-12-2017
Economies.com
2017-12-05 04:53AM UTC
The USDCAD pair begins to push on the key support 1.2665 now, noticing that this level represents neckline of a double top pattern that has targets that reach 1.2470 mainly.
Therefore, our bearish overview will remain active for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 1.2723 will stop the current negative pressure and lead the price to achieve gains on the intraday basis.
Expected trading range for today is between 1.2560 support and 1.2730 resistance.
Expected trend for today: Bearish
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