USDCAD retests – Analysis - 08-08-2018
Economies.com
2018-08-08 03:57AM UTC
The USDCAD pair shows new retest process to 1.3060 level, as the EMA50 meets this level to add more strength to it, accompanied by stochastic loss to the positive momentum clearly on the daily time frame.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend, which targets 1.2926 areas initially, reminding you that breaching 1.3060 followed by 1.3128 levels will stop the expected decline and push the price to rise on the intraday and short term basis.
Expected trading range for today is between 1.2950 support and 1.3128 resistance.
Expected trend for today: Bearish
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