There are lots of things going on in this market, so it's hard not to draw yet another line depicting the forces at play. Anyway, it looks about to make another leg down very soon, probably at least to 1.45. The EUR is the weakest major ccy and the CAD is slowly gaining strength. It is possible that this market is going to meet resistance at the red sliding parallel. On the other hand, there is that black bullish
fork, with its rising median line
serving as a potential target to be hit. So bearish
as I am about it, the failure is a part of the game.
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