Wed, Feb 08, 2023 @ 17:20 GMT
HomeContributorsTechnical AnalysisUSD/CAD Losing Momentum

USD/CAD Losing Momentum

The USD/CAD rallied and climbed much above the 1.2557 Monday’s high, but failed to stay there. Price retreated as the USDX has slipped lower after the impressive rally. However, the perspective is bullish on the short term after the retest of the upper median line (uml) of the minor descending pitchfork and after the failure to close on the median line (ml) of the blue ascending pitchfork.

The next upside target will be at the ML of the major red descending pitchfork and at the 1.2678 static resistance.

MultiBank Exchange Group
MultiBank Exchange Group
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.

Featured Analysis

Learn Forex Trading