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USD/CAD Is The Downside Movement Completed?

MultiBank Exchange Group
By MultiBank Exchange Group

USD/CAD increased a little today as the pressure is still high. You can see that has failed to reach the lower median line (lml) of the descending pitchfork and the sliding line (descending dotted line), signaling that has lost the bearish momentum. I’ve added an ascending pitchfork, a retest of the lower median line (lml) will confirm a rebound on the short term.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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