The market has stabilized, the first signs of a downtrend appeared

September 6, 2021 6:04:31 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.264)
18:01
18:01
Sep. 6, 2021

-75 p
1.2640
Stop Loss
1.2565
Entry
+75 p
1.2490
Target 1
+100 p
1.2465
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. 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.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. MVP line is above the price and acts as a resistance level.
  5. 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