- According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- The first target is at the level of the previous peak - 1.3855, and the second one, in case of an active price increase, is at the level - 1.388
USDCAD - Upward trend will continue, Long trade by market price recommended
October 12, 2022 11:18:24 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.3795)
+85 p
1.3880
Target 2
+60 p
1.3855
Target 1
1.3795
Entry
-55 p
1.3740
Stop Loss
Chart & Analyst Comments
