USDCAD - Upward trend will continue, Long trade by market price recommended
April 8, 2020 6:26:06 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.4065)
+84 p
1.4150
Target 1
1.4065
Entry
-85 p
1.3980
Stop Loss
About Author
Alexander Zorevyk
Expert
Related Links
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Total votes: 12
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Chart & Analyst Comments
- Majority of traders are still holding onto Shorts. This means we should continue to Buy USDCAD.
- 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
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
