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

May 7, 2020 8:06:06 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3985)
8:04
8:04
May 7, 2020

+114 p
1.4200
Target 2
+84 p
1.4170
Target 1
1.4085
Entry
-100 p
1.3985
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  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. The Ratios indicator demonstrates a market shift towards sellers. Their increase while the downward movement may indicate a successfully triggered trap. Possible price upward reversal.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 1.417, and the second one, in case of an active price increase, is at the level - 1.42