- 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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
USDCAD - Downward trend will continue, Short trade by market price recommended
June 7, 2022 2:22:06 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2590)
-60 p
1.2650
Stop Loss
1.2590
Entry
+65 p
1.2525
Target 1
+90 p
1.2500
Target 2
Chart & Analyst Comments
