USDCAD begins with bearish gap – Analysis - 27-08-2018
Economies.com
2018-08-27 04:28AM UTC
The USDCAD pair ended last Friday’s trading with clear negativity to attack the bullish trend line, starting today with bearish gap that puts the price below this support, which hints that the price will face more pressure in the upcoming sessions, to activate the bearish trend scenario that its next target located at 1.2923.
Therefore, the bearish trend will be suggested for today supported by the negative pressure formed by the EMA50, noting that breaching 1.3040 and holding above it will stop the expected decline and bring us back to neutrality.
Expected trading range for today is between 1.2923 support and 1.3080 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Sterling sharpens decline to five-month nadir after weak data
2024-04-19 11:40AM UTC
Sterling tumbled in European trade against a basket of major rivals, sharpening losses for the ...
Forex
Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
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 Technical Analysis
Forex
The GBPUSD forecast update 19-04-2024
2024-04-19 10:43AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price trades with clear positivity to ...
Forex
The EURUSD price forecast update - 19-04-2024
2024-04-19 10:43AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price finds solid support at the ...
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...