- Negative Divergence RSI (Blue line) created a bullish reaction of USDCAD (H4) last weekend.
- RSI trendline has formed, however the resistance of 60 is still be there.
- The downtrend is dominant, the uptrend has not really formed.
- An uptrend will form if the rate approaches the 1.24724-1.24982 resistance level (Fibonacci Extensions [1.618]).
*Therefore, we wait for an uptrend and then find a key point to buy.
Note
USDCAD fell to an unusual break. Cancel the trading plan!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.