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USDCAD retests – Analysis - 01-08-2016
The USDCAD pair showed clear negative trades on last Friday to settle at the key support 1.2985, and as we mentioned in our recent reports, holding above this level represents the condition of continuing the expected positive scenario on the intraday basis, which targets testing 1.3310 level mainly.
Therefore, we believe that the chances are valid to trade positively in the upcoming sessions, especially that stochastic reaches the thresholds of the oversold areas to provide positive motive that supports the expectations of rising, taking into consideration that breaking 1.2985 – 1.2945 levels will put the price under the negative pressure to return to the main bearish track that its next main target located at 1.2459.
Expected trading range for today is between 1.2945 support and 1.3200 resistance.
Expected trend for today: Bullish
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USDJPY suffers strong losses – Analysis - 01-08-2016
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