Dollar CAD (USDCAD) Bearish Divergence at Critical Level

Today we having the CAD gross domestic product fundamental event in which we have analysed to be a positive result for the Canadian dollar, the event will be taking place at 14h30 CAT in which we will likely get to see some very strong movement on CAD paired currency pairs.

CAD Tecnicals

On UsdCad setup below we have price currently sitting on a bearish institutional order flow zone in which there is a very high number of institution sell orders, this gives a thumbs up for a strong sell on today's event.

Divergence 

We have a Bearish Divergence on UsdCad on the RSI which shows the sellers strength against the real chart window.

Please use proper risk management in all your trading and remember to trade with right brokers especially the ones we recommend you based on our testing.