FX:USDCAD Hello everyone. As we can see : - Multiple convergence - Bearish crossover on MACD on 1D timeframe - EMA 20/50 being resistance on 1D timeframe - EMA 50 is acting like support and EMA 200 is resistance now no 12H timeframe - We had 3 Bearish engulfing last days ( mentioned as BE on chart ) - Broke Descending channel and Enter Ascending channel - Rejected from resistance zone and channels top - Bearish MACD - Helical indicator is bearish - Stochastic RSI was bearish but now its reversing ( its not confirmed for bullish crossover yet )
We have 2 side of technical now ! Thats the way we connect our technical to fundamentals... Trump disease would make so many problems for OIL, also USDCAD is connected to OIL movement somehow !! If trump dont recover his health until Monday ( tomorrow ) . We will see a break out from channel and a trip to support zones.
Attention : this is not a financial advise we just try to help people on their own vision.