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

May 14, 2021 7:52:28 AM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (1.2080)
May 14, 2021

-70 p
Stop Loss
+70 p
Target 1
+105 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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  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 - 1.208, and the second one, in case of an active price decrease, is at the level - 1.2045
    index: 1x 0.053866863250732s
t_/pages/forecast: 1x 0.048224925994873s
t_/common/header-new: 1x 0.030462980270386s
t_/common/head: 1x 0.024518013000488s
t_/common/footer-new: 1x 0.0042018890380859s
router_page: 1x 0.0028729438781738s
router: 1x 0.0012800693511963s
t_/popups/on-download: 1x 0.0007941722869873s
service-routes: 1x 0.00053691864013672s
router_redirection: 1x 0.00023007392883301s
t_/popups/zoom: 1x 7.7962875366211E-5s
----- END OF DUMP (2022-11-30 03:04:11)  -----