USDCAD retests – Analysis - 08-08-2018
Economies.com
2018-08-08 03:57AM UTC
The USDCAD pair shows new retest process to 1.3060 level, as the EMA50 meets this level to add more strength to it, accompanied by stochastic loss to the positive momentum clearly on the daily time frame.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend, which targets 1.2926 areas initially, reminding you that breaching 1.3060 followed by 1.3128 levels will stop the expected decline and push the price to rise on the intraday and short term basis.
Expected trading range for today is between 1.2950 support and 1.3128 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex
Sterling starts recovering after hot UK inflation data
2024-04-17 06:43AM UTC
Sterling rose in European trade on Wednesday for the first time in four days against the dollar, ...
Forex
Fed Chair: Driving down inflation towards target could take longer than expected
2024-04-16 20:10PM UTC
Fed Chair Jerome Powell said in a symposium earlier today that inflation has stiffened and held in ...
Forex Technical Analysis
Forex
The USDCHF price tests the moving average – Forecast today - 18-04-2024
2024-04-18 04:07AM UTC
Price Analysis: USDCHF Expected Scenario The USDCHF price faces negative pressure to test ...
Forex
The NZDUSD price begins positively – Forecast today - 18-04-2024
2024-04-18 04:06AM UTC
Price Analysis: NZDUSD Expected Scenario The NZDUSD price trades with clear positivity, ...
Forex
The AUDUSD price is recovering – Forecast today - 18-04-2024
2024-04-18 04:06AM UTC
Price Analysis: AUDUSD Expected Scenario The AUDUSD price couldn’t hold below the ...