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

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

June 9, 2022 10:52:40 AM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (1.2615)
Jun. 9, 2022

-65 p
Stop Loss
+50 p
Target 1
+80 p
Target 2
Chart & Analyst Comments
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. While in flat, the price often crosses the MVP line, since it reflects price balance. Today's short-term Sell forecast aims to cross this line.
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  6. The first target is at the level of the previous bottom - 1.25, and the second one, in case of an active price decrease, is at the level - 1.247
    index: 1x 0.036168098449707s
t_/pages/forecast: 1x 0.032999992370605s
t_/common/header-new: 1x 0.019614934921265s
t_/common/head: 1x 0.016119956970215s
t_/common/footer-new: 1x 0.0025391578674316s
router_page: 1x 0.0015919208526611s
router: 1x 0.0006101131439209s
t_/popups/on-download: 1x 0.0005340576171875s
service-routes: 1x 0.00025010108947754s
router_redirection: 1x 0.00011515617370605s
t_/popups/zoom: 1x 3.0040740966797E-5s
----- END OF DUMP (2022-07-05 18:16:07)  -----