USDCAD - Downward trend will continue, Short trade by market price recommended
September 1, 2021 7:21:58 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.259)
-65 p
1.2670
Stop Loss
1.2605
Entry
+70 p
1.2535
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.2535
