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

January 11, 2021 7:56:35 PM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (1.2710)
Jan. 11, 2021

-70 p
Stop Loss
+65 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. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. MVP line is above the price and acts as a resistance level.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
    index: 1x 0.034857034683228s
t_/pages/forecast: 1x 0.03159499168396s
t_/common/header-new: 1x 0.020488977432251s
t_/common/head: 1x 0.016710996627808s
t_/common/footer-new: 1x 0.0026538372039795s
router_page: 1x 0.0017688274383545s
router: 1x 0.00085997581481934s
t_/popups/on-download: 1x 0.00049901008605957s
service-routes: 1x 0.00033402442932129s
router_redirection: 1x 0.0001838207244873s
t_/popups/zoom: 1x 1.5974044799805E-5s
----- END OF DUMP (2022-07-06 17:09:07)  -----