Forex

The USDCAD touches the first target – Analysis - 01-12-2020

2020-12-01 04:58:53 GMT (Economies.com)

The USDCAD pair managed to touch our first waited target at 1.2960 and attempted to break it, noticing that the EMA50 continues to press negatively on the price, while stochastic lost its positive momentum to reach the overbought areas.

 

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, reminding you that our next target reaches 1.2785, while achieving it requires holding below 1.3055.

 

The expected trading range for today is between 1.2890 support and 1.3020 resistance.

The expected trend for today: Bearish

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