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.
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.