The market has stabilized, the first signs of a downtrend appeared
August 3, 2020 7:12:45 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.3365)
-70 p
1.3455
Stop Loss
1.3385
Entry
+60 p
1.3325
Target 1
+85 p
1.3300
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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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.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.3325, and the second one, in case of an active price decrease, is at the level - 1.33
