• USDCAD under bearish pressure
• Likely to test support level 1.2600
USDCAD currency pair under bearish pressure after the price broke the support level 1.2710 (low of the daily Bullish Engulfing from the end of January) standing close to the 61.8% Fibonacci correction of the upward impulse (i).
The breakout of the support level 1.2710 accelerated the active short-term ABC correction (ii) from the start of February.
Given the predominant downtrend – USDCAD can be expected to fall further toward the next support level 1.2600 (monthly low from January and the target for the completion of the active correction (ii)).
The Hang Seng Index has fallen 20% from its peak, marking the start of a…
The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…
The crypto market has continued to cool down for the third day, with a 1.7%…
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
This website uses cookies