USDCAD possible long trade

17 Okt 2015

1.28000 area where previous resistance level was, now should be good support for the dollar. we also have a falling wedge with rsi convergence. waiting for price to come into that 1.28000 level for a buy! we could get a double bottom so it might not reach that level fully so take note. two ways you can trade this. 1.wait for price reach the 1.28000 level then wait for a bullish candle with rsi divergence or 2. buy the break out of the wedge (safer)