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

October 13, 2020 5:26:37 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.318)
5:24
5:24
Oct. 13, 2020

-55 p
1.3180
Stop Loss
1.3125
Entry
+55 p
1.3070
Target 1
+75 p
1.3050
Target 2
Chart & Analyst Comments
USDCAD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  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. MVP line is above the price and acts as a resistance level.
  4. The first target is at the level of the previous bottom - 1.307, and the second one, in case of an active price decrease, is at the level - 1.305