Post of The Day USD/CAD

Question:
Here we can see a Double Top occurring on the USD/CAD chart. The MACD indicator shows the first peak, but gets nowhere near on the second peak. This to me indicates that the trend will turn and shows a good time at which to sell.






















Power Course Instructor’s Response:

Well done...

This is a dramatic example of divergence on this USDCAD pair. Coupled with a double top, this would be a solid indication of a potentially bearish move. It may not be an all out change in the trend, but, as can be seen on the chart, a pullback of several hundred pips did occur after the double top.

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