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

February 6, 2020 1:12:08 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3315)
13:07
13:07
Feb. 6, 2020

+74 p
1.3355
Target 2
+54 p
1.3335
Target 1
1.3280
Entry
-60 p
1.3220
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.3335, and the second one, in case of an active price increase, is at the level - 1.3355