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

August 15, 2019 10:50:06 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3295)
10:47
10:47
Aug. 15, 2019

+54 p
1.3375
Target 1
1.3320
Entry
-60 p
1.3260
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  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. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.