USDCAD hits the target – Analysis - 15-06-2018

Economies.com
2018-06-15 02:49AM UTC

The USDCAD pair succeeded to rally upwards to achieve our waited target at 1.3128, starting today with bullish bias to breach this level and attempts to hold above it, which paves the way to extend the bullish wave on the short term and medium term basis, to head towards visiting 1.3223 level as a next main station.

 

Therefore, the bullish trend will remain suggested in the upcoming sessions, noting that trading below 1.3128 will stop the current bullish momentum and force the price to provide some negative trading on the intraday basis before any new attempt to rise.

 

Expected trading range for today is between 1.3060 support and 1.3223 resistance.

 

Expected trend for today: Bullish

Forex and Currency News

EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...
USD/JPY news

Forex

Japan sends the stronger warning after yen crashes to 34-year nadir
2024-03-27 08:50AM UTC
Yen tumbled in European trade on Wednesday against a basket of major rivals, sharpening losses for ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...