USDCAD - Upward trend will continue, Long trade by market price recommended

February 13, 2020 7:28:39 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.331)
7:20
7:20
Feb. 13, 2020

+89 p
1.3350
Target 2
+49 p
1.3310
Target 1
1.3260
Entry
-55 p
1.3205
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  4. After a slight downward price movement, profitable sellers actively begin to take profits, returning the price to its original position.
  5. The first target is at the level of the previous peak - 1.331, and the second one, in case of an active price increase, is at the level - 1.335