- 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.
- 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.
- MVP line is above the price and acts as a resistance level.
- We are focused on the breakdown of the previous bottom, the target at the level of 1.26.
USDCAD - Downward trend will continue, Short trade by market price recommended
February 10, 2022 8:23:53 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2735)
-70 p
1.2735
Stop Loss
1.2665
Entry
+65 p
1.2600
Target 1
Chart & Analyst Comments
