USDCAD@ One More Rally Before Massive Drop

Looking at the monthly chart i truly believe that usdcad uptrend comes to an end. Looking at the daily we can clearly see an uptrend with price having already 3 elliott waves. Price is now testing a key support level and if we don't witness a breakout we can say that we have and wave 4 completed.

In the 4h chart we see a RSI divergence we is a sign that price will reverse. A nice way to trade this setup is to wait for a bullish harmonic pattern to form in the lower timeframes. Stoploss and profit targets as shoen in the chart.

RSI divergence:

Dagangan ditutup: sasaran tercapai:

First target reached, move stoploss to breakeven in the second one.