The currency pair has been falling since 6 June 2023...
It's gone on a strong downtrend channel, which has not been good for the Canadian Dollar.
Lately it's formed not one but TWO bearish chart patterns.
M Formation and Inv C&H
And the price has broken below both the neckline and brim level.
This means, there is more downside to come with a target of 0.6050.
Other indicators confirm the bearish momentum
200>21>7 - Bear market
RSI<50
Target 0.6050
It's gone on a strong downtrend channel, which has not been good for the Canadian Dollar.
Lately it's formed not one but TWO bearish chart patterns.
M Formation and Inv C&H
And the price has broken below both the neckline and brim level.
This means, there is more downside to come with a target of 0.6050.
Other indicators confirm the bearish momentum
200>21>7 - Bear market
RSI<50
Target 0.6050
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.