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

November 4, 2020 9:13:17 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.305)
21:11
21:11
Nov. 4, 2020

-85 p
1.3255
Stop Loss
1.3170
Entry
+90 p
1.3080
Target 1
+120 p
1.3050
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. MVP line is above the price and acts as a resistance level.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.