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USDCAD - First Lower High - Divergence @ Resistance
U.S. Dollar / Canadian Dollar
Short
USDCAD - First Lower High - Divergence @ Resistance
By swissmoneymakers
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Sep 24, 2021
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Sep 24, 2021
Hi Traders!
According to this idea, the market is going to break
the daily Trendline bearish towards the next daily Support.
Here are some indications which supports our view:
First
Lower High
after a sequence of higher Highs
Market at weekly Resistance - Break was rejected three times for now
MACD shows decent Divergence
Distance of higher Highs getting shorter
Weekly Trend is downwards, this Up-Movement could be interpreted as a 38.2% Fib' Retracement
If you have any kind of question or a different point of view, feel free to comment!
Thanks and successful Trading :-)!
Chart Patterns
Divergence
Technical Indicators
priceaction
structure
Trend Analysis
swissmoneymakers
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