EN

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

October 12, 2021 10:19:35 AM by Alex Zarevich
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2435)
10:17
10:17
Oct. 12, 2021
-70 p
1.2535
Stop Loss
1.2465
Entry
+70 p
1.2395
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. 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 0.033030033111572s
t_/pages/forecast: 1x 0.030210971832275s
t_/common/header-new: 1x 0.019448041915894s
t_/common/head: 1x 0.015964031219482s
t_/common/footer-new: 1x 0.0023839473724365s
router_page: 1x 0.0015161037445068s
router: 1x 0.00070595741271973s
t_/popups/on-download: 1x 0.00047421455383301s
service-routes: 1x 0.00027608871459961s
router_redirection: 1x 0.00012993812561035s
t_/popups/zoom: 1x 1.4066696166992E-5s
----- END OF DUMP (2022-11-30 03:36:11)  -----