USD/CAD Hidden Bullish Divergence At L5 Pivot

Nenad Kerkez

The USD/CAD has broken through 1.2900 as predicted on a previous Session Recap webinar straight to the target. At this point we can see a hidden bullish divergence at L5 camarilla pivot point that could give us a retracement for next short opportunity. There are 2 scenarios. First scenario is trend move. If the price proceeds to POC 1.2925-40 (bearish order block, L3,divergence trend line), it could reverse to 1.2820 and 1.2764. POC is also protected by 38.2 and EMA89 just above it. Second scenario is H1 momentum or 4h close below L5 weekly camarilla – 1.2815. In that case traders should look for 1.2764 target.

USDCAD 4 Hour Chart

USDCAD 4 Hour Chart

Source: admiralmarkets.com

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