The USDCAD currency pair has been in a downward trend since the beginning of March. Looking at the chart in terms of the Overbalance methodology, two geometries should be marked. The first – larger, marked in red, and the second marked in green. During today’s session, the rate bounced off the smaller geometry, which is why a move towards the last minimum is not ruled out. However, if the aforementioned geometry were to be negated, the rate could even move towards 1.4100, where the upper limit of the larger geometry falls. According to the Overbalance methodology, only the negation of the larger system could change the trend to an upward one, but for now, according to the methodology, the sentiment is downward.
USDCAD interval H4. Source: xStation5
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
