Stochastic bearish divergence on USD/CAD
After showing some resistance to the 1.3350 price area price signals bearish behaviour to follow. A high test bar offers an entry point and Stochastic bearish divergence brings confirmation for a potential drop in price.
entry - below low of high test bar
stop loss - above high of high test bar
target - 50 ema for 1:1 reward-risk profile or previous support level at 1.3030 for >1:1 reward-risk profile
entry - below low of high test bar
stop loss - above high of high test bar
target - 50 ema for 1:1 reward-risk profile or previous support level at 1.3030 for >1:1 reward-risk profile