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

September 7, 2022 3:40:11 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3110)
15:40
15:40
Sep. 7, 2022

+60 p
1.3230
Target 1
1.3170
Entry
-60 p
1.3110
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. Set Take Profit at the local high, beyond which there is a cluster of orders.
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