USDCAD - Upward trend will continue, Long trade by market price recommended
May 7, 2020 8:06:06 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.3985)
+115 p
1.4200
Target 2
+85 p
1.4170
Target 1
1.4085
Entry
-100 p
1.3985
Stop Loss
About Author
Alexander Zorevyk
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 0
Buy or Sell
Chart & Analyst Comments
- 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.
- 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.
- MVP line is below the price and acts as a support level.
- 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
