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

December 14, 2021 8:42:03 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.2870)
8:39
8:39
Dec. 14, 2021

+65 p
1.2870
Target 1
1.2805
Entry
-65 p
1.2740
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. MVP line is below the price and acts as a support level.
  5. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  6. We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
    index: 1x 0.036671876907349s
t_/pages/forecast: 1x 0.033241033554077s
t_/common/header-new: 1x 0.021753072738647s
t_/common/head: 1x 0.018373012542725s
t_/common/footer-new: 1x 0.002349853515625s
router_page: 1x 0.0016939640045166s
router: 1x 0.00067615509033203s
t_/popups/on-download: 1x 0.000518798828125s
service-routes: 1x 0.0002739429473877s
router_redirection: 1x 0.0001070499420166s
t_/popups/zoom: 1x 3.0040740966797E-5s
----- END OF DUMP (2022-01-16 21:36:01)  -----