I'm not surprised if USDCAD corrects after strong rally.
I see many signals of incoming correction.
- Stoch indicator: %K cut %D
- RSI: the uptrend gradually lost momentum and there is a divergence between RSI and price.
Tomorrow, US GDP is the main focus. If the data cann't provide enough catalyst for the greenback, absolutely USDCAD will correct.
I see many signals of incoming correction.
- Stoch indicator: %K cut %D
- RSI: the uptrend gradually lost momentum and there is a divergence between RSI and price.
Tomorrow, US GDP is the main focus. If the data cann't provide enough catalyst for the greenback, absolutely USDCAD will correct.