The market has stabilized, the first signs of a downtrend appeared
December 9, 2020 10:18:38 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.278)
-70 p
1.2870
Stop Loss
1.2800
Entry
+70 p
1.2730
Target 1
+100 p
1.2700
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on USDCAD. As a result, we recommend considering only Short trades at this time.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.
