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

August 11, 2021 7:11:20 AM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (1.2505)
Aug. 11, 2021

-65 p
Stop Loss
+75 p
Target 1
Chart & Analyst Comments
  1. 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.
  2. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards 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.
    index: 1x 0.048237800598145s
t_/pages/forecast: 1x 0.044792175292969s
t_/common/header-new: 1x 0.026745080947876s
t_/common/head: 1x 0.021171092987061s
t_/common/footer-new: 1x 0.0044760704040527s
router_page: 1x 0.0017240047454834s
t_/popups/on-download: 1x 0.00084400177001953s
router: 1x 0.00071406364440918s
service-routes: 1x 0.00028014183044434s
router_redirection: 1x 0.00013303756713867s
t_/popups/zoom: 1x 7.6055526733398E-5s
----- END OF DUMP (2022-11-30 03:20:11)  -----