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USD/CAD In The Seller’s Territory

USD/CAD is trading in the red after the false breakout above the warning line (wl4) and could slip much lower on the short term. Has retested the median line (ml) of the minor descending pitchfork, but wasn’t enough to start another leg higher. Could come down t o retest the confluence area formed at the intersection between the 1.2460 with the lower median line (LML) of the major black ascending pitchfork.

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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