Two important things happened on Friday. One of these was the boosting of the Canadian Dollar.
The Retail Sales was much better than expected. This moved all CAD pairs, but this, combined with the falling US dollar price caused a nice drop. If you used the ForexMillionaireStrategy on this pair, you earned profit with this pair. Just check the chart. There is an RSI divergence on the top. Sure, all those who used the strategy, closed the USDCAD trade with profit before the publishment of the Retail Sales number (2 hours earlier).
But check the chart. A new RSI divergence appeared on the bottom. Sure, this is not a clear signal, because it didn’t start to retrace, but if it will go up on Monday, it will be a clear signal in some hours later.
Talk about NZD. The New-Zealand dollar felt in the middle of the week. On Friday, it started to recover.
The AUDNZD jumped after the RBA’s (Reserve Bank of Australia) President, Philip Lowe’s speech, but during the European session, that trend stopped and the NZD started to retrace and pushed the AUDNZD back to the lower areas.
The AUDNZD on not show any RSI divergence yet, but you can see that the RSI level felt under 30%. This is a good start. Check this pair on Monday.
The NZDUSD is another possibility. If you are a user of the ForexMillionaireStrategy, you earned profit with this pair during the European session. The retracement of the NZD and the falling USD price pushed the NZDUSD up. The RSI divergence was clear and the traders who set a trade after the signal was confirmed, closed the trade with profit in 2 hours.
The NZDUSD will probably go higher on Monday, but the RSI is high. That means if that positive movement won’t be too fast and big, it can create an RSI divergence on the chart and a clear signal to the traders.
Don’t forget to check the economic calendar before setting a trade.