The USDCAD price breaches the resistance – Forecast today - 01-05-2024
Economies.com
2024-05-01 03:46AM UTC
USDCAD Price Analysis
Expected Scenario
- The USDCAD price rallied upwards strongly yesterday to breach 1.3760$ and close the daily candlestick above it, to stop the correctional bearish scenario and head towards resuming the main bullish track, on its way to test the recently recorded top at 1.3845$ as a first station, noting that breaching it will push the price towards 1.3977 as a next main target.
- Therefore, the bullish bias will be suggested for today, noting that failing to consolidate above 1.3760$ might force the price to achieve new bearish corrections on the intraday basis.
Expected Trading Range
Between 1.3720$ support and 1.3850$ resistance.
Trend Forecast: Bullish
Forex and Currency News
Forex
Yen extends losses as Banks of Japan holds off intervention
2024-05-17 04:36AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex
Euro extends gains to two-month highs amid positive outlook
2024-05-16 08:33AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Yen gains ground as US treasury yields dip
2024-05-16 04:20AM UTC
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 17-05-2024
2024-05-17 09:10AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price provides additional negative ...
Forex
The EURUSD price forecast update - 17-05-2024
2024-05-17 09:09AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price shows additional negative trades ...
Forex
The GBPCHF repeats the attempt to exit the negative track – Forecast today – 17-5-2024
2024-05-17 07:18AM UTC
GBPCHF Price Analysis Expected Scenario The GBPCHF price returned to form new bullish ...