USDCAD - Downward trend will continue, Short trade by market price recommended

January 7, 2022 7:04:19 AM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (1.2635)
Jan. 7, 2022

-75 p
Stop Loss
+75 p
Target 1
Chart & Analyst Comments
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further USDCAD price decrease.
  5. We are focused on the breakdown of the previous bottom, the target at the level of 1.2635.
    index: 1x 0.032470941543579s
t_/pages/forecast: 1x 0.029501914978027s
t_/common/header-new: 1x 0.018776178359985s
t_/common/head: 1x 0.015975952148438s
t_/common/footer-new: 1x 0.0022199153900146s
router_page: 1x 0.0012180805206299s
router: 1x 0.00060606002807617s
t_/popups/on-download: 1x 0.00052595138549805s
service-routes: 1x 0.00024795532226562s
router_redirection: 1x 0.00011801719665527s
t_/popups/zoom: 1x 2.7894973754883E-5s
----- END OF DUMP (2022-01-16 22:36:01)  -----