USDCAD - Upward trend will continue, Long trade by market price recommended

October 3, 2022 5:56:40 AM by Alex Zarevich
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3650)
5:56
5:56
Oct. 3, 2022

+95 p
1.3835
Target 1
1.3740
Entry
-90 p
1.3650
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
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