USDCAD - Upward trend will continue, Long trade by market price recommended
May 15, 2020 1:52:31 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.4)
+89 p
1.4155
Target 2
+64 p
1.4130
Target 1
1.4065
Entry
-65 p
1.4000
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
