Divergence on USD/CAD

Divergence on USD/CAD

At the moment, the bearish sentiment prevails on the USD/CAD currency pair. Nevertheless, in the near future, we do not exclude a technical correction. In the trading instrument, the strongest reversal formation, the price and MACD histogram divergence, (H1 timeframe) was formed. We recommend you to pay attention to this situation.

If the price fixes above 1.26100, you need to look for entry points to the market to open long positions. The closest target for fixing the profit is the offer zone of 1.26500-1.26750. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.08.21

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.