FX:USDCAD   U.S. Dollar / Canadian Dollar
1229 3 50
I think the time had come for the Canadian Dollar             .
The USDCAD             pair had entered into a bear market at the beginning of 2016. The decline was so powerful that we sliced through the 200 SMA in March without looking back. Today we are tagging the 200 SMA again. As I'm quite sure that the dollar will start a serious decline in the following days it will give the possibility to USDCAD             to break down the bear flag .
Notice the divergence in RSI .
Comment: It seems we are really reversing from the 200 SMA...
More than 100 pips profit.
snapshot
Amazing chart. I am going to wait for tomorrow's price action to decide direction. Oil is reaching strong resistance,too.
Reply
Looks more like 250 SMA
Reply
Agreed. Been waiting to short this for a couple of weeks.
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