Forex Analysis Report 2-5-19…Goldman Sachs Expects More Declines On USD/CAD

Analysts at Goldman Sachs offer key technical levels for trading the USD/CAD pair in the coming days.

“The next interim support is down at 1.30-1.2974; includes the April uptrend as well as a 1.618 extension target.

There are a few technical resistance levels down to 1.2890 but believe there is scope for a decline.

Consider selling into 1.3282 no higher than 1.3350. Confidence below 1.3206. Next in focus 1.3120. Scope to retrace between 1.30 and 1.2878.

Source

I have been trying to short the USD/CAD for several weeks because I too think there is more downside risks.

Forex Analysis Report 1-27-19…Will The USD/CAD Continue To Rise??? – Part

About the author: TIMM Trader

Uniting Experts & Novices for Mutual Profit!