The market has stabilized, the first signs of a downtrend appeared
March 11, 2021 7:21:33 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.264)
-60 p
1.2700
Stop Loss
1.2640
Entry
+60 p
1.2580
Target 1
+85 p
1.2555
Target 2
About Author
Alexander Zorevyk
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 11
Buy or Sell
Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.258, and the second one, in case of an active price decrease, is at the level - 1.2555
