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 (1.259)
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
USDCAD - Downward trend will continue, Short trade by market price recommended
  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