USDCAD retests – Analysis - 24-11-2017
Economies.com
2017-11-24 04:37AM UTC
The USDCAD pair retests 1.2723 level that was broken previously, accompanied by stochastic reach to the overbought areas, noticing that the EMA50 meets the mentioned level to add more strength to it.
Therefore, we believe that the chances are valid to resume the bearish track in the upcoming period, waiting to break 1.2665 level to ease the mission of heading towards our first main target at 1.2470, taking into consideration that breaching 1.2723 – 1.2740 levels will stop the suggested decline and push the price to visit 1.2927 areas again.
Expected trading range for today is between 1.2620 support and 1.2780 resistance.
Expected trend for today: Bearish
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