USDCAD retests – Analysis - 13-10-2017
Economies.com
2017-10-13 03:53AM UTC
The USDCAD pair retests the previously broken support of the bullish channel that appears on chart, noticing that stochastic provides negative overlapping signal on the four hours' time frame, to form negative motive that we are waiting to push the price to resume the bearish trend, which its next target located at 1.2300.
Therefore, we will continue to suggest the bearish bias in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 1.2485 will stop the current negative pressure and push the price back to the correctional bullish track.
Expected trading range for today is between 1.2350 support and 1.2540 resistance.
Expected trend for today: Bearish
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