- According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
USDCAD - Upward trend will continue, Long trade by market price recommended
September 2, 2022 11:03:02 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.3140)
+90 p
1.3230
Target 2
+60 p
1.3200
Target 1
1.3140
Entry
-70 p
1.3070
Stop Loss
Chart & Analyst Comments
