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

July 16, 2019 10:06:09 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.3055)
10:01
10:01
Jul. 16, 2019

-60 p
1.3115
Stop Loss
1.3055
Entry
+55 p
1.3000
Target 1
+80 p
1.2975
Target 2
Chart & Analyst Comments
USDCAD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratios indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. Set Take profit at the local price minimum.