USD/CAD
Time Frame: H4
Technical analysis: The chart shows that the price is moving in an upward trend and is currently on a strong resistance (the white trend line). At the same time, the price has managed to make two consecutive highs, the second is higher than the first, and the DeM indicator shows the presence of divergence. The H4 chart clearly shows how the price has repeatedly attacked short-term resistance but failed to break it, leaving behind long spikes, which is a sign of weakening the upward movement.
Indicators: The price is over 50 and 200 EMA, and for the moment they play a role of support.
DeM - Shows the presence of divergence.
Entry into Deal: From current levels
Stop loss: 1.3470
Alternative scenario: In case of breakthrough of the static resistance (the white trend line), the price will continue to rise to the next strong resistance in the yellow trend line.
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