The market has stabilized, the first signs of a downtrend appeared

July 3, 2020 7:39:09 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.3525)
7:37
7:37
Jul. 3, 2020

-54 p
1.3635
Stop Loss
1.3580
Entry
+55 p
1.3525
Target 1
+80 p
1.3500
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCAD.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.