Forex

The USDCAD achieves the first target – Analysis - 20-03-2019

2019-03-20 04:55:08 GMT (Economies.com)

The USDCAD pair traded with clear negativity yesterday to succeed touching our first waited target at 1.3260 and bounced upwards to settle near the EMA50, noticing that stochastic reaches the overbought areas now, which supports the chances of resuming the expected bullish trend on the intraday and short term basis, which its next main target located at 1.3128.

 

Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless the price rallied to breach 1.3382 level and hold above it.

 

The expected trading range for today is between 1.3240 support and 1.3400 resistance.

The expected trend for today: Bearish

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