Help Ukraine! Today, Ukraine Is Fighting for Freedom and the Future of Democracy in Europe. Help Ukraine! Donate Verified Charity
EN

USDCAD - Downward trend will continue, Short trade by market price recommended

August 9, 2022 2:51:29 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2810)
14:51
14:51
Aug. 9, 2022
-65 p
1.2940
Stop Loss
1.2875
Entry
+65 p
1.2810
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Pay attention to the accumulation of buyers near the current price. Such situations during an uptrend may indicate an upcoming correction. As a result, we will be going with a short-term Sell Order.
  5. Set Take Profit at the local low, beyond which there is a cluster of orders.
    index: 1x 0.034646034240723s
t_/pages/forecast: 1x 0.03105902671814s
t_/common/header-new: 1x 0.01910400390625s
t_/common/head: 1x 0.015869140625s
t_/common/footer-new: 1x 0.0031280517578125s
router_page: 1x 0.0019650459289551s
router: 1x 0.00091981887817383s
t_/popups/on-download: 1x 0.00077986717224121s
service-routes: 1x 0.00033998489379883s
router_redirection: 1x 0.0001380443572998s
t_/popups/zoom: 1x 6.2227249145508E-5s
----- END OF DUMP (2022-10-05 05:46:10)  -----