USDCAD gets a negative signal – Analysis – 18/07/2017

usd-cadThe USDCAD pair shows negative trading now in attempt to resume the main bearish trend, noticing that stochastic begins to provide negative overlapping signal on the four hours’ time frame, which supports the continuations of the main bearish bias, which gets continuous support by the EMA50.

Therefore, the bearish trend will remain valid and active in the upcoming sessions, as our next main target is located at 1.2459, noting that holding below 1.2815 represents the first protecting factor to the continuation of the suggested negative scenario.

Expected trading range for today is between 1.2520 support and 1.2740 resistance.

Expected trend for today: Bearish
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Origin: Economies

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