Long on USDCAD
Updated
We have bullish divergence on the hourly and price has found support. As we know price is fractal so we could see a repeat of movement in price as it happened the last time it was in this support area. We also see a decline in Crude which will help this long position. Canadian Dollar is effected by the movement of crude. On the Crude chart we see bearish divergence and price is hitting resistance. A fall in crude price could help our long position on the USDCAD.
Trade closed: stop reached
closed on BE.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.