{"id":19345,"date":"2021-12-09T06:57:00","date_gmt":"2021-12-09T06:57:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=19345"},"modified":"2021-12-09T21:23:00","modified_gmt":"2021-12-09T21:23:00","slug":"usdcad-technical-analysis-macd-divergence-in-play","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-macd-divergence-in-play\/","title":{"rendered":"USDCAD Technical Analysis &#8211; MACD divergence in play"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19345\" class=\"elementor elementor-19345\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b0027b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b0027b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-82d3887\" data-id=\"82d3887\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ff39460 elementor-widget elementor-widget-text-editor\" data-id=\"ff39460\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The US dollar has fallen to its lowest trading level since November 19<sup>th<\/sup> against the Canadian dollar, as rising <a href=\"https:\/\/bit.ly\/3cq8pbu\" target=\"_blank\" rel=\"noopener\">oil prices<\/a> help to boost the Canadian currency on the foreign exchange market.<\/p><p>Aside from the strength in oil prices boosting the Canadian dollar, the <a href=\"https:\/\/bit.ly\/3zVm8kX\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> had a terrible Tuesday, as the greenback sold-off broadly against commodity-related currencies and the<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\"> euro<\/a>.<\/p><p>Yesterday\u2019s Bank of Canada meeting took a backseat in the events driving the Canadian dollar. Traders were largely not expected the Canadian central bank to hike amidst Omicron fears.<\/p><p>The Bank of Canada kept borrowing costs unchanged but highlighted the overall strength in the domestic labour market. The central bank also expressed worries about the persistence of inflation that will likely keep expectations of imminent interest rate hikes intact.<\/p><p>In a statement-only decision Wednesday, policy makers kept the benchmark overnight rate unchanged at 0.25% and reiterated the economy continues to require considerable monetary policy support.<\/p><p>Something to note is the <a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">USDCAD<\/a> pair could still be headed lower due to huge amounts of bearish MACD price divergence and the daily chart also shows a bearish triple top price pattern.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-01dbfb7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01dbfb7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1bd779e\" data-id=\"1bd779e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-056ef63 elementor-widget elementor-widget-image\" data-id=\"056ef63\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"456\" height=\"165\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-chart-3.jpg\" class=\"attachment-large size-large wp-image-19360\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8b11e1d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8b11e1d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1aa925a\" data-id=\"1aa925a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-62e4e1e elementor-widget elementor-widget-text-editor\" data-id=\"62e4e1e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>High levels of bullish sentiment are still seen towards the USDCAD pair right now, with some 73 percent of traders holding a bullish view towards the USDCAD pair.<\/p><p>This bullish sentiment is a worry for USDCAD long traders, as retail traders have poor market timing meaning that a wider downside correction is certainly possible over the coming days.<\/p><p><strong>USDCAD Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame currently shows that a large rising wedge pattern is present and appears to be playing out to the downside. Rising wedge are amongst the most bearish reversal patterns.<\/p><p>With the USDCAD pair falling a further drop below the 1.2600 level could cause a major price drop with the 1.2300 level the primary bearish target for the mentioned reversal pattern.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e63ba97 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e63ba97\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ba7ec73\" data-id=\"ba7ec73\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-97a36f9 elementor-widget elementor-widget-image\" data-id=\"97a36f9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"570\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-4h-2.jpg\" class=\"attachment-large size-large wp-image-19364\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6606b311 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6606b311\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-43c89e00\" data-id=\"43c89e00\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e0f8c29 elementor-widget elementor-widget-text-editor\" data-id=\"2e0f8c29\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-32b5a95 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"32b5a95\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fb11ca\" data-id=\"5fb11ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c9dc9e elementor-widget elementor-widget-text-editor\" data-id=\"9c9dc9e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>USDCAD Medium-Term Technical Analysis<\/strong><\/p><p>A bearish triple-top has now formed over the USDCAD pair across the daily time frame, with the recent upside failure above the 1.2860 resistance level last week.<\/p><p>Bearish MACD price divergence is also seen, with a massive slump back down towards the 1.2400 level need in order for the MACD price divergence to be reversed on the four-hour time frame.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-18d0620 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"18d0620\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-397207c\" data-id=\"397207c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f9ab15 elementor-widget elementor-widget-image\" data-id=\"8f9ab15\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"564\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-1d-2.jpg\" class=\"attachment-large size-large wp-image-19366\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45f7ec19 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45f7ec19\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-61b1f021\" data-id=\"61b1f021\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-547a2968 elementor-widget elementor-widget-text-editor\" data-id=\"547a2968\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar has fallen to its lowest trading level since November 19th against the Canadian dollar, as rising oil prices help to boost the Canadian currency on the foreign exchange market. Aside from the strength in oil prices boosting the Canadian dollar, the US dollar index had a terrible Tuesday, as the greenback sold-off [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":11745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[64,40,31],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDCAD Technical Analysis - MACD divergence in play - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-macd-divergence-in-play\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDCAD Technical Analysis - MACD divergence in play USDCAD Technical Analysis - MACD divergence in play\" \/>\n<meta property=\"og:description\" content=\"The US dollar has fallen to its lowest trading level since November 19th against the Canadian dollar, as rising oil prices help to boost the Canadian currency on the foreign exchange market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-macd-divergence-in-play\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-09T06:57:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-09T21:23:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/07\/GettyImages-695963882.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"554\" \/>\n\t<meta property=\"og:image:height\" content=\"294\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"USDCAD Technical Analysis - MACD divergence in play USDCAD Technical Analysis - MACD divergence in play\" \/>\n<meta name=\"twitter:description\" content=\"The US dollar has fallen to its lowest trading level since November 19th against the Canadian dollar, as rising oil prices help to boost the Canadian currency on the foreign exchange market.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-macd-divergence-in-play\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-macd-divergence-in-play\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDCAD Technical Analysis &#8211; 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