- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- 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.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- 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
USDCAD - Downward trend will continue, Short trade by market price recommended
January 14, 2022 5:24:51 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusMarket
-60 p
1.2560
Stop Loss
1.2500
Entry
+60 p
1.2440
Target 1
+85 p
1.2415
Target 2
Chart & Analyst Comments
