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DLavrov

USDCAD Bullish Divergence

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
DLavrov  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Support and Resistance Technical Indicators USDCAD Forex
37
2
trendanalysis supportandresistance indicator usdcad forex
The price bounced from 1.22500 level. RSI and a reversal candlestick pattern confirm price reversal. The bullish divergence gives a trend reversal signal. MACD supports upward movement. All these signals tell us that the downward movement is over and the market is going to move upward. Entry level is 1.24500 with stop orders at 1.22300 level. Profit targets are 1.28000 and 1.32000 resistance levels.
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