The market has stabilized, the first signs of a downtrend appeared
September 6, 2021 6:04:31 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.264)
-75 p
1.2640
Stop Loss
1.2565
Entry
+75 p
1.2490
Target 1
+100 p
1.2465
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- 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.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.249, and the second one, in case of an active price decrease, is at the level - 1.2465
