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

January 14, 2022 5:24:51 AM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (1.2535)
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 0.045072078704834s
t_/pages/forecast: 1x 0.040094137191772s
t_/common/header-new: 1x 0.028080940246582s
t_/common/head: 1x 0.024262189865112s
t_/common/footer-new: 1x 0.0026769638061523s
router_page: 1x 0.0023651123046875s
router: 1x 0.0011091232299805s
t_/popups/on-download: 1x 0.00056314468383789s
service-routes: 1x 0.00041294097900391s
router_redirection: 1x 0.00019216537475586s
t_/popups/zoom: 1x 3.504753112793E-5s
----- END OF DUMP (2022-11-30 03:21:11)  -----