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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-buy-market-trend-1
Forecast Details
PairUSDCAD
Publication Time8/6/24 7:18 AM
Direction Buy
Status Closed (1.3785)
7:18
7:18
Aug. 6, 2024
Forecast
+50 p
1.3885
Target 1
1.3835
Entry
-50 p
1.3785
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
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