Tradeciety

USDCAD setting something up?

FX:USDCAD   U.S. Dollar/Canadian Dollar
746 2 13
The USDCAD             is setting up an interesting scenario.

The rally has clearly lost momentum and with the triple top, it confirms the lack of bullish support.

The RSI is giving us a divergence and the BB even showed a brief spike on the head.

There is a support below current price and price could stay in that range without a bearish catalyst.

Keep in mind that it's FED day today and news could influence this setup significantly.

The plan: keep an eye on it, wait until the dust has settled after news and then reassess the situation.
john.greydanus
2 months ago
so, there is no trade idea as per the message? ;-)
Reply
elie70927834
2 months ago
Hi Rolf, I would say that I like your professional thinking and methodology. Thanks and keep updating.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out