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Attack_Titan
Dec 26, 2016 10:56 AM

USDCAD short setup Short

U.S. Dollar/Canadian DollarFXCM

Description

  • Price already showing exhaustion as there is MACD divergence formation on the lower time frames
  • Price currently has not broken the inner uptrend on the lower time frames however we have seen price resisting the previous resistance zone - around 1.3555.
  • We could see price breaking inner uptrend line to make a new higher low either around the highlighted zone or a possible re test of the main trend line. Both these 2 possible reversal areas are in confluence with Fibonacci levels: 61.8% - 78.60%

FX_IDC:USDCAD
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