Forex Marketz Daily Forex News – Fully Markets Update
USD/CAD — At this time of the year, especially before Black Friday every Loonie worth is critical to the Canadian. We see on the 30 minute chart a narrowing of the bullish pattern and likely a plateau or reduction.
Looking at the daily alone we would still be inclined to predict a bullish pattern continuing to the a support of 1.118 and a resistance of 1.14260. At the charts notice it was trading at 1.13476. Let’s look at the 30 minute again.
On the thirty minute chart wee can see a healthy push below the moving average and the bottom of the bollinger band. This indicates a trend reversal coming in the short to mid term.
Update: The prediction was in order, and the trend is now bearish. Traders can earn success on tips and careful investigation.
