forexTrdr

forexTrdr USDCAD - BEARISH DIVERGENCE

FX:USDCAD   U.S. Dollar / Canadian Dollar
Morning traders

New week and we are looking at a new bearish divergence setup showing up on US dollar versus Canadian dollar on the 4 hourly charts with new highs on prices being met with a combination of lower highs on both RSI and stochastics pointing to a bearish divergence and a likely fall in prices over the coming trading session.

Looking to trade this setup with a tight stop loss above just above the last high should this be a false divergence signal.

Short and simple

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Good luck trading

from the Team at forexTrdr
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