- Majority of traders are still holding onto Longs. This means we should continue to Sell USDCAD.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- Price broke through the MVP line and rushed down. We consider this a sign for further USDCAD price decrease.
- The first target is at the level of the previous bottom - 1.227, and the second one, in case of an active price decrease, is at the level - 1.2235
Chart & Analyst Comments
