USDCAD : Downward Corrective Reversal

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 30, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    USDCAD moved to a new high recently, but with decreasing momentum based on RSI reading. Notice that there was a strong divergence since end of October, so we assume that pair found a temporary top now and that price will make a three wave corrective set-back. As such, move up from October low was labeled as leading diagonal in wave 1, so price can turn lower into wave 2 in days ahead. USDCAD, 4H

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