"Open 1.0916 Range 1.0900/1.0919 Prev. Close 1.0903
Technically, we can observe a strong underlying bull trend still developing in USDCAD. Short, medium and long-term trend momentum oscillators are aligned bullishly, something which usually delivers a grinding directional move with…Continue
We still see downward risks for EURUSD outweighing upside potential, which should remain contained to the low 1.35 area at best and prove short lived. Technicals indicate that, from current levels, only a move above 1.3550 on a sustained basis relieves the bear pressure while a rally through 1.37 is needed to turn the technical picture more constructive. Contrarily, weakness below 1.3375/85 will imply that…Continue
"USDCAD has sustained the move through the trigger point of the bull wedge pattern that broke down late last week but, as we suspected might be the case, the low 1.08 resistance area has slowed gains, leaving the USD trading in a narrow range through Monday so far. We may see some modest back and filling of the…Continue
Usualy the divergences act as short term countertrend (reversal) patterns but there are divergences that also act as continuation patterns in trends. Usualy, when a divergence act as a short term countertrend pattern the gains are smaller than when the divergence act as a continuation pattern. When you have a divergence acting as continuation pattern there are chances to join the trend and make more gains.
Bellow I will show to you a few examples of the divergences that act as…Continue