Divergence on USD/CAD

Divergence on USD/CAD

On the USD/CAD currency pair there is a downward trend for quite a long time. Nevertheless, in the near future, a technical correction may develop. A strong reversal formation was formed in the trading instrument – price and MACD divergence timeframe (H1 timeframe). The local resistance is the level of 1.26800. We recommend you to pay attention to this situation.

If the price fixes above the level of 1.26800, you need to look for entry points to the market to open long positions. The movement is tending potentially to the local offer zone of 1.27400-1.27650.

by JustForex, 2017.07.17

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.

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