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

January 14, 2022 5:24:51 AM by Alexander Zorevyk
Forecast Details
Direction Sell
Jan. 14, 2022

-60 p
Stop Loss
+60 p
Target 1
+85 p
Target 2
Chart & Analyst Comments
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous bottom - 1.244, and the second one, in case of an active price decrease, is at the level - 1.2415
    index: 1x 0.03203296661377s
t_/pages/forecast: 1x 0.029460906982422s
t_/common/header-new: 1x 0.018570899963379s
t_/common/head: 1x 0.015610933303833s
t_/common/footer-new: 1x 0.0021288394927979s
router_page: 1x 0.001338005065918s
router: 1x 0.00065016746520996s
t_/popups/on-download: 1x 0.00047087669372559s
service-routes: 1x 0.00028705596923828s
router_redirection: 1x 0.00012493133544922s
t_/popups/zoom: 1x 2.598762512207E-5s
----- END OF DUMP (2022-01-16 21:25:01)  -----