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

January 10, 2022 7:50:50 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2640)
7:47
7:47
Jan. 10, 2022
-75 p
1.2715
Stop Loss
1.2640
Entry
+75 p
1.2565
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  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. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  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. MVP line is above the price and acts as a resistance level.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
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