Divergence on USD/CAD

Divergence on USD/CAD

The current technical pattern signals a possible correction of the USD/CAD currency pair after a continuous fall. A classic reversal formation, the divergence of price and MACD histogram (H1 timeframe), has been formed in the trading instrument. Quotes are testing three-month lows. The round level of 1.31000 is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above 1.31000, USD/CAD purchases should be considered. The immediate goal for profit taking is 1.31250-1.31450. The movement is tending to 1.31800-1.32100. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.10.24

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.

Abrir cuenta

Consigue análisis gratis

* campos obligatorios
Últimos artículos
Todos los artículos