USDCAD loses momentum – Analysis - 14-05-2018
Economies.com
2018-05-14 02:58AM UTC
The USDCAD pair achieved some slight rise after reaching our first waited target at 1.2717, to test 1.2800 barrier and begins to rebound bearishly from there, accompanied by stochastic reach to the overbought areas.
Therefore, these factors encourage us to continue suggesting the bearish trend on the intraday and short term basis, noting that breaking 1.2717 will push the price towards 1.2625 as a next main target, while breaching 1.2800 will push the price to test 1.2923 before any new attempt to decline.
Expected trading range for today is between 1.2680 support and 1.2840 resistance.
Expected trend for today: Bearish
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