USDCAD pair in 1 Hour timeframe. Price has created a bullish divergence with RSI (14). The price is bouncing back from a support area between 1.25708 & 1.25572.
If we switch the time frame to weekly and monthly, this area shows strong support. At the same time price just bounced back from outside of Bollinger band in the hourly timeframe.
Longer timeframe shows a bullish trend for this pair. So everything is favoring a long position. Hopefully we can get into the trade soon.
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Sunday 20 August 2017
Can USDCAD resume it's uptrend?
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# S&R-RSI Divergence
# USD/CAD
# USDCAD
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USDCAD
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