Divergence on USD/CAD

Divergence on USD/CAD

Since the beginning of this week, the bearish sentiment has been prevailing on USD/CAD. The drop in quotations exceeded 250 points. At the moment, there is a corrective movement. A quite strong reversal formation of technical analysis – price and MACD histogram divergence – was formed on the market. It is necessary to pay attention to this situation.

We recommend considering buying USD/CAD if the price fixes above the round level of 1.33000. The immediate goal for profit taking is 1.33500. Within a few days, the USD/CAD quotes can reach 1.33900-1.34000.

View trading ideas by the Price Action method.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.