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 going only long at this time.
  2. The Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
  3. The activity of "fresh" sellers in an uptrend 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 trading idea.