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 (1.305)
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 critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. There is an increase in the number of bulls on the upward movement with subsequent correction. We regard this movement as a trap for buyers and look forward to a downward movement.
  3. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  4. Take profit is set at the local price minimum.