USDCAD (H4) - Wait to Buy(or Sell)!
USD/CAD OANDA:USDCAD
- Negative Divergence RSI (Blue line) created a bullish reaction of USDCAD (H4) last weekend.
- RSI trendline has formed, however the resistance of 60 is still be there.
- The downtrend is dominant, the uptrend has not really formed.
- An uptrend will form if the rate approaches the 1.24724-1.24982 resistance level (Fibonacci Extensions ).
- Therefore, we wait for an uptrend and then find a key point to buy.
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source https://www.smartmoneymanagement.info/2021/10/usdcad-h4-wait-to-buyor-sell.html
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