Forex

The USDCAD attempts to recover – Analysis - 22-10-2020

2020-10-22 03:53:43 GMT (Economies.com)

The USDCAD pair trades with clear positivity to reach the key resistance at 1.3180, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum to show clear overbought signals now.

 

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 1.3035 followed by 1.2960 levels as next main stations, noting that breaching 1.3180 will push the price to turn to rise and achieve additional gains that start at 1.3240 and extend to 1.3362.

 

The expected trading range for today is between 1.3090 support and 1.3220 resistance.

The expected trend for today: Bearish

More Analysis

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.