USD/CAD 4 hour Bullish Divergence
There is some RSI divergence on the 4 hour chart. USD/CAD might start to get out of its bearish rotation in the coming days. You can see on the 4 hour chart, the RSI is starting to build momentum to the upside. On the Daily the RSI is starting to pull away from oversold and is starting to build in strength. We just need to see price catch up. I'm looking at the Drop-Base-Rally zone with the .886 Fib confluence as a possible reversal zone. (1.3040-1.3060.) I wanna see a Hammer formation on the Daily, tweezer-bottoms on the 4 hour, or a double bottom form. This is definitely going to be a longer time frame trade. Also keep an eye on Oil this week, if it continues to squeeze there is still plenty of room to the down side. Good luck trading out there.
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