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

April 8, 2020 6:26:06 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.4065)
6:24
6:24
Apr. 8, 2020

+84 p
1.4150
Target 1
1.4065
Entry
-85 p
1.3980
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy USDCAD.
  2. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.