USDCAD retests – Analysis - 07-12-2018
Economies.com
2018-12-07 04:42AM UTC
The USDCAD pair retests the support base formed above 1.3382 level after breaching it previously and keeps its stability above it until now, accompanied by stochastic reach to the oversold areas’ thresholds, while the EMA50 keeps supporting the price from below.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, as our next target located at 1.3470, while breaking 1.3382 represents negative factor that will push the price to test 1.3280 areas initially before any new attempt to rise.
Expected trading range for today is between 1.3320 support and 1.3480 resistance.
Expected trend for today: Bullish
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