EUR vs CAD Bearish Divergance

29 thg 11, 2013

Looking at the EUR vs CAD on the daily time frame we can see that price is on a pretty nice uptrend which started on 8/16/2012. Price is currently bouncing on the previous months high level at 1.44397. This is the second attempt at violating this level as price has previously failed on 10/27/2013. There is also bearish divergence on the RSI which leads me to believe that we may see price drop from this level. Resistance with divergence leads me to look for a short opportunity. have a great trading day and God bless!