USDCAD - Downward trend will continue, Short trade by market price recommended
September 2, 2020 3:25:36 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.3135)
-60 p
1.3135
Stop Loss
1.3075
Entry
+55 p
1.3020
Target 1
+85 p
1.2990
Target 2
About Author
Alexander Zorevyk
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 6
Buy or Sell
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.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
