The USDCAD price under the negative pressure – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:44AM UTC
USDCAD Price Analysis
Expected Scenario: Bearish Trend
- The USDCAD price traded with clear negativity, nearing the $1.3505 level.
- This suggests a potential return to the correctional bearish track.
- Breaking the $1.3505 level will confirm the continuation of the bearish trend towards $1.3440 as the next negative station.
- Therefore, the bearish bias is expected for today, supported by moving below the EMA50.
- Note that breaching $1.3606 will invalidate the expected decline and may lead to a resumption of the main bullish trend.
Expected Trading Range for Today
- Support: $1.3460
- Resistance: $1.3600
Trend Forecast: Bearish
Forex and Currency News
Forex
BOE holds interest rates unchanged for sixth straight meeting
2024-05-09 11:33AM UTC
Bank of England voted to hold interest rates unchanged for the fifth straight meeting at 5.25%, the ...
Forex
Sterling under pressure ahead of BOE decisions
2024-05-09 07:50AM UTC
Sterling fell in European trade on Thursday against a basket of major rivals, extending losses for ...
Forex
Yen moves in negative zone under supervision of Japanese authorities
2024-05-08 04:36AM UTC
Yen declined on Wednesday in Asian trade against a basket of major rivals, extending losses for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 09-05-2024
2024-05-09 09:34AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price achieved initial break to ...
Forex
The EURUSD price forecast update - 09-05-2024
2024-05-09 09:34AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price resumes its negative trading to ...
Forex
The EURGBP begins to rise – Forecast today – 9-5-2024
2024-05-09 05:54AM UTC
EURGBP Price Analysis Expected Scenario The EURGBP price succeeded to hold above 38.2% ...