The USD/CAD
retraces to the 200 day exponential moving average, blue line, around the
1.3400 level. It’s possible that a breakout and pullback pattern is developing
around that moving average, therefore the price may try to go back down. The 21
day EMA is showing us that the bearish trend is still in place, especially when
the angle of inclination of the EMA is very steep. Be attentive to a possible
bearish bounce from the 200 EMA or a breakout of that zone for a visit of the
1.3600 area.
Downtrend still in place.
ReplyDeleteThanks for the analysis.
ReplyDeleteI think this is temporary and it will continue falling.
ReplyDeleteThank you for sharing, will be watchful on these levels.
ReplyDeleteI am totally agree with your analysis.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDeleteVery interesting! Thanks!
ReplyDeleteWell spotted, Thanks.
ReplyDeleteGood analysis, thanks.
ReplyDelete