USDCAD
The USDCAD currency pair represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). When you mention a "divergence," you may be referring to a technical analysis concept. Divergence is a situation where the price of an asset and a technical indicator (e.g., RSI, MACD) move in opposite directions, suggesting a potential reversal or change in trend.
To analyze whether shorting the USDCAD pair with a target of 1.3665 is a good opportunity.
Divergences are used by traders in an attempt to determine if a trend is getting weaker, which may lead to a trend reversal or continuation.
Before you head out there and start looking for potential divergences, here are nine cool rules for trading divergences.
Divergence only exists if the SLOPE of the line connecting the indicator tops/bottoms DIFFERS from the SLOPE of the line connection price tops/bottoms.
The slope must either be: Ascending (rising) Descending (falling) Flat (flat).
The image above provides you with two examples: one in pink and the other in blue.
In the “pink” example, the pink lines show where divergence is present. As you can see, price made a lower low, while the indicator made a higher low. The slope of the price line is descending (or sloping down), while the indicator line is ascending (or sloping up).
In the e”blue” example, the blue lines show no divergence between price and indicator. Both lines are sloped in the same general direct, up.
To analyze whether shorting the USDCAD pair with a target of 1.3665 is a good opportunity.
Divergences are used by traders in an attempt to determine if a trend is getting weaker, which may lead to a trend reversal or continuation.
Before you head out there and start looking for potential divergences, here are nine cool rules for trading divergences.
Divergence only exists if the SLOPE of the line connecting the indicator tops/bottoms DIFFERS from the SLOPE of the line connection price tops/bottoms.
The slope must either be: Ascending (rising) Descending (falling) Flat (flat).
The image above provides you with two examples: one in pink and the other in blue.
In the “pink” example, the pink lines show where divergence is present. As you can see, price made a lower low, while the indicator made a higher low. The slope of the price line is descending (or sloping down), while the indicator line is ascending (or sloping up).
In the e”blue” example, the blue lines show no divergence between price and indicator. Both lines are sloped in the same general direct, up.
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