USDCAD-double top "adan and eve"

FX:USDCAD   U.S. Dollar / Canadian Dollar
Last rally is showing clear signs of weakness. Price found strong resistance near the top and formed multiple dojis.

From the technical perspective we can see a double top formation called "adan and eve".

Indicators also support this view:

- bearish divergence on macd
- RSI trendline broken
- bearish divergence on stoch

Next week we have no strong USD news till friday (retail sales), so i expect a technical decline the first days of the week.

If the news are negative price could reach last lows.

Best regards.

This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).


hello everyone ! I will share now what i see on the chart USD/CAD from the moment when this pair was born . Have to say first , it looks bearish
because it actually is . There is a big difference between going up in real up treand , and going up for rejection by pushing .

USD/CAD is going up by pushing , that means no support . Resistance is ready with the short positions. For sure our place is there ,as well , waiting for the short .

Anyway let see what happened in the past . USD/CAD appear on market , support 1.25 , made a break through 1.40 , and fell from its support immidiately . Since that moment destiny is written . Next movement up is rejective level 1.618 reject , everyone know that level , and the price is actually falling down . Every movement up is corrective .
Every pair suppose to have a proper support , some pairs will pay for their big tops made by pushing , like gbp/usd .. eur/usd as well is not with a good support .

Just one more thing about USD /CAD , be reasonable and leave this one to push up and get ready for long term short . https://dwq4do82y8xi7.cloudfront.net/x/iqNB9FDU/
+1 Reply
usdcad completed the 3rd wave now it will decline towards 1.315--1.32 area to complete wave 4(it is making 5th wave ending diagonal then will rise minimum 730 pip from the low it makes i think likely move 1.315 then 1.39
Any new ideas on the usdcad? $1.40 looks like next resistance level...
BLKS marcus123
I think we will have to wait for bar confirmation to enter, since is have for is to know how high it will go, and if you look carefully a double top could form.
wheres the double top pls?
BLKS marcus123
Sorry it could be form in gbpcad, remember wrong pair.
Any Short reentry possible for EUR/CAD or USD/CAD ?
Lanmar RamprasadSanthanam
1.3759 usdcad 1.38 stop
Thank you Lanmer
look at weekly chart it goes up
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