The USD / CAD pair is showing some slight bullishness to come close to retesting 1.3310, which is a pivotal resistance after breaking it in advance, and as long as the price is below this level, our bearish outlook remains intact for the coming period, with the next major target at 1.2985 .
---------- Post added at 08:25 PM ---------- Previous post was at 02:14 AM ----------
USD/CAD continued its positive trading session to breach the 1.3310 level and close the daily candlestick above it, which signals the attempt to return to the upside, but we see that Stochastic loses its positive momentum clearly, while the SMA 50 is a continuous negative pressure in front of price.
---------- Post added 06-23-2017 at 01:50 AM ---------- Previous post was 06-22-2017 at 08:25 PM ----------
These factors encourage us to weigh negative trades in the coming sessions, making sure that the 1.3310 level is breached again below 1.2985, noting that closing the daily candlestick above 1.3310 will stop the negative scenario and lead the pair to gains starting at 1.3470.
---------- Post added at 07:35 PM ---------- Previous post was at 01:50 AM ----------
The USD / CAD pair traded with strong negativity yesterday to break the 1.3310 level and settle below it again, which supports our bearish outlook for the upcoming session, which is primarily targeting 1.2985, supported by Stochastic's negative cross.