USDCAD within sideways track – Analysis - 07-08-2018

Economies.com
2018-08-07 04:18AM UTC

The USDCAD pair fluctuates within sideways and tight track in the previous sessions, keeping its stability below 1.3060 level, to keep the negative effect of the double top pattern active, waiting to test 1.2923 level initially, noting that breaking this level will push the price towards 1.2717 as a next main station.

 

In general, the bearish bias will remain dominant unless we witnessed clear breach to 1.3060 and 1.3128 levels and holding above them.

 

Expected trading range for today is between 1.2900 support and 1.3060 resistance.

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar hovers near six-week high ahead of consumer spending data, Powell's remarks
2024-03-29 11:28AM UTC
Dollar Strengthens Amid Declining Rate Cut Odds The dollar rose in European trade on Friday ...
EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...

Forex Technical Analysis

Technical Analysis

Forex

The NZDCAD moves to the bearish track – Forecast today – 29-3-2024
2024-03-29 06:18AM UTC
NZDCAD Pair Forecast for Today - 29-3-2024 The NZDCAD pair surrendered to the negative ...
EUR JPY Analysis

Forex

The EURJPY declines below the support – Forecast today – 29-3-2024
2024-03-29 06:13AM UTC
EURJPY Pair Forecast for Today - 29-3-2024 The EURJPY pair surrendered to the negative ...
GBP JPY Analysis

Forex

The GBPJPY has to decline – Forecast today – 29-3-2024
2024-03-29 06:12AM UTC
GBPJPY Pair Forecast for Today - 29-3-2024 The GBPJPY pair still confined with many negative ...