Forex

The USDCAD declines calmly – Analysis - 03-08-2020

2020-08-03 03:51:48 GMT (Economies.com)

The USDCAD pair resumed its negative trades to approach 1.3362 level, and as we mentioned in our last report, the price needs to break this level to reinforce the expectations of continuing the main bearish trend and head towards our next target at 1.3270, noting that the EMA50 forms negative pressure that supports the chances of achieving the required break.

 

Therefore, the will continue to suggest the bearish trend for the upcoming period unless breaching 1.3425 and holding above it.

 

The expected trading range for today is between 1.3320 support and 1.3470 resistance.

The expected trend for today: Bearish

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