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.