Last breaths of the USD/CAD rally
My reasoning:
- a good rally but it is coming to an end with strong resistance around 1,37
- bounced off the resistance area several times already
- bulls are getting tired (volume is falling with each attempt)
- forming now a triple top
- divergence on RSI and MACD
Might shoot up to 1,37 still but I think latest around 1,374 the party will be over and we will fall to the trend line around 1,34-1,33 after that we'll see.
- a good rally but it is coming to an end with strong resistance around 1,37
- bounced off the resistance area several times already
- bulls are getting tired (volume is falling with each attempt)
- forming now a triple top
- divergence on RSI and MACD
Might shoot up to 1,37 still but I think latest around 1,374 the party will be over and we will fall to the trend line around 1,34-1,33 after that we'll see.
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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.