Wed, Jan 08, 2025 @ 16:17 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisUSD/CAD Under Immense Selling Pressure

USD/CAD Under Immense Selling Pressure

MultiBank Exchange Group
By MultiBank Exchange Group

USD/CAD dropped much below the 1.2400 psychological level and could resume the downside movement. You can see that is pressuring some support level, a valid breakdown will confirm a further drop in the upcoming period.

The major downside target stands at the lower median line (LML) of the major descending pitchfork, only a failure to reach it will signal a reversal.

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.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2025 All rights reserved.