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

October 6, 2022 10:02:25 AM by Alex Zarevich
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3730)
9:32
9:32
Oct. 6, 2022
+75 p
1.3730
Target 1
1.3655
Entry
-80 p
1.3575
Stop Loss
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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Set Take profit at the local price maximum.
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