- According to the Current Ratio indicator, the market crowd inclined to believe in a downward movement. We recommend Long trade for today.
- 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
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
- The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.3075
USDCAD - Upward trend will continue, Long trade by market price recommended
July 8, 2022 7:20:53 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.2940)
+95 p
1.3100
Target 2
+70 p
1.3075
Target 1
1.3005
Entry
-65 p
1.2940
Stop Loss
Chart & Analyst Comments
