Forex

The USDCAD hits the first target – Analysis - 25-11-2020

2020-11-25 05:35:54 GMT (Economies.com)

The USDCAD pair bounced downwards strongly yesterday after testing the intraday bearish channel’s resistance line, to succeed touching our first waited target at 1.3000, waiting for more decline to visit 1.2960 that represents our next station, noting that breaking this level will cause extension to the bearish wave on the short term and medium term basis, to reach 1.2785 as a next negative target.

 

Therefore, our bearish overview will remain valid and active for the upcoming period conditioned by the price stability below 1.3090.

 

The expected trading range for today is between 1.2900 support and 1.3090 resistance.

The expected trend for today: Bearish

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