The USDCAD reaches the first target – Analysis - 12-12-2019

Economies.com
2019-12-12 05:46AM UTC

The USDCAD pair traded with strong negativity yesterday to reach our first waited target at 1.3155, reinforcing the expectations of achieving more decline in the upcoming period, waiting to break this level to confirm extending the bearish wave towards our next target that reaches 1.3015.

 

Therefore, the negative pressure will remain suggested, supported by the EMA50, reminding you that it is important to hold below 1.3295 to continue the expected decline.

 

The expected trading range for today is between 1.3080 support and 1.3220 resistance.

The expected trend for today: Bearish

 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...