USDCAD - Downward trend will continue, Short trade by market price recommended
October 13, 2020 5:26:37 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.318)
-55 p
1.3180
Stop Loss
1.3125
Entry
+55 p
1.3070
Target 1
+75 p
1.3050
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- 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
