USDCAD retests – Analysis - 17-01-2017
Economies.com
2017-01-17 04:41AM UTC
The USDCAD pair retested the bullish channel's support line that forms key resistance now at 1.3190 and rebounds bearishly from there, which supports the continuation of our bearish overview efficiently in the upcoming period, especially that stochastic starts to provide negative signals on the four hours' time frame, besides the continuous negative pressure provided by the EMA50.
Therefore, we believe that the way is open to head towards 1.2985 that represents our next main target, noting that breaching 1.3190 level will lead the price to test 1.3310 direct before any new attempt to decline.
Expected trading range for today is between 1.3020 support and 1.3220 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar hovers near three-week trough as US yields taper off
2024-05-06 11:23AM UTC
Dollar fell in European trade on Monday against a basket of major rivals, extending losses for the ...
Forex
Euro approaches three-week high amid bullish outlook
2024-05-06 08:02AM UTC
Euro rose in European trade on Monday against a basket of major rivals, maintaining gains for the ...
Forex
Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 06-05-2024
2024-05-06 11:08AM UTC
GBPUSD Price Analysis The GBPUSD price attempts to breach the 1.2580$ level. Waiting to surpass ...
Forex
The EURUSD price forecast update - 06-05-2024
2024-05-06 11:08AM UTC
EURUSD Price Analysis The EURUSD price settles at the intraday bullish channel’s support ...
Forex
Deere price surrounded with positive pressures - Forecast today - 06-05-2024
2024-05-06 10:28AM UTC
Deere & Company’s stock (DE) extended its gains in the intraday levels, amid the ...