Hidden Bullish Divergence
The MACD is making lower lows, while price is making higher lows - known as hidden bullish divergence. An upward move and weakness of bears will be further confirmed when the MACD makes an upward crossover. Any long positions should wait for the MACD to make an upward crossover, which could be sometime this week.
Less resistance is found to the upside as the price is nearer to the first weekly support than to the first weekly resistance. (Fibonacci S&R levels).
Fundamentally, a better than expected GDP figure and personal consumption expenditure (PCE) prices for the US tomorrow (25.11.14) may see the entry signal given. However, retail sales are due tomorrow as well for Canada and a better than expected figure may see the USD-CAD pair slide further.
Q3 annualized GDP for the US is expected to be 3.3% versus 3.5% in Q2, while retail sales for September for Canada are expected to grow 0.5%. PCE prices for the US are expected to show 2.3% quarterly growth.
Less resistance is found to the upside as the price is nearer to the first weekly support than to the first weekly resistance. (Fibonacci S&R levels).
Fundamentally, a better than expected GDP figure and personal consumption expenditure (PCE) prices for the US tomorrow (25.11.14) may see the entry signal given. However, retail sales are due tomorrow as well for Canada and a better than expected figure may see the USD-CAD pair slide further.
Q3 annualized GDP for the US is expected to be 3.3% versus 3.5% in Q2, while retail sales for September for Canada are expected to grow 0.5%. PCE prices for the US are expected to show 2.3% quarterly growth.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.