Divergence on USD/CAD

Triangle on USD/CAD

The current technical pattern signals a possible correction of the USD/CAD currency pair after a prolonged rally. In a trading instrument, a classic reversal formation has been formed – the price and MACD histogram divergence (H1 timeframe). At the moment, the USD/CAD currency pair is consolidating. A trading instrument is testing the round level of 1.36000. We recommend paying attention to this situation.

If the price fixes below 1.36000, one should look for entry points to the market to open short positions. The immediate goal for profit taking is the local support level of 1.35650. The movement is tending to 1.35200-1.34900. When following a position, we recommend using a trailing stop.

by JustForex 2018.12.28

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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