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USDCAD - Downward trend will continue, Short trade by market price recommended

September 1, 2021 7:21:58 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2590)
7:20
7:20
Sep. 1, 2021

-65 p
1.2670
Stop Loss
1.2605
Entry
+70 p
1.2535
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on USDCAD. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.2535
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