- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- 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.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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
USDCAD - Downward trend will continue, Short trade by market price recommended
June 9, 2022 10:52:40 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2615)
-65 p
1.2615
Stop Loss
1.2550
Entry
+50 p
1.2500
Target 1
+80 p
1.2470
Target 2
Chart & Analyst Comments
