Home Forex Market Analysis Forex Signals Bearish Bias Dominates USD/CAD – EMA Extends Resistance  

Bearish Bias Dominates USD/CAD – EMA Extends Resistance  


The USD/CAD pair is trading with a selling bias at 1.2619 level, facing an immediate resistance around 1.2630 level. The USD/CAD pair is stuck in between a narrow trading range of 1.2630 – 1.2612 level on the two-hourly timeframes. On the lower side, a bearish breakout of 1.2612 level can extend selling bias until the next support level of 1.2580 level. Conversely, an upward crossover of 1.2630 can send the USD/CAD pair further higher until the 1.2665 level. The MACD and RSI are in support of the selling trend today. 

Entry Price – Sell 1.26125

Stop Loss – 1.26525

Take Profit – 1.25725

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

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