USDCAD - Downward trend will continue, Short trade by market price recommended
June 3, 2021 8:26:35 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.211)
-45 p
1.2110
Stop Loss
1.2065
Entry
+50 p
1.2015
Target 1
+70 p
1.1995
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.2015, and the second one, in case of an active price decrease, is at the level - 1.1995
