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

December 14, 2021 8:42:03 AM by Alex Zarevich
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.
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