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

December 12, 2019 6:25:42 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.317)
18:23
18:23
Dec. 12, 2019

-49 p
1.3235
Stop Loss
1.3185
Entry
+60 p
1.3125
Target 1
Chart & Analyst Comments
USDCAD - Downward trend will continue, Short trade by market price recommended
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  2. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  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.