If there’s one thing a girl hates, it’s getting mixed signals! And that’s exactly what I’m seeing on USD/CAD’s 1-hour time frame.
On one hand, there’s a double bottom formation as the pair bounced a couple of times off the 1.0200 major psychological support, signaling that an uptrend could be in the cards. There’s also a bullish pennant sitting close to the formation’s neckline at 1.0350.
On the other hand, the falling trend line connecting the pair’s highs is still intact while stochastic is indicating a bearish divergence.
This could be a make or break, fellas! Which side are you on this week?