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

June 17, 2020 7:12:18 AM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (1.3595)
Jun. 17, 2020

-65 p
Stop Loss
+55 p
Target 1
+85 p
Target 2
Chart & Analyst Comments
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on USDCAD. As a result, we recommend considering only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. The first target is at the level of the previous bottom - 1.3475, and the second one, in case of an active price decrease, is at the level - 1.3445
    index: 1x 0.042450904846191s
t_/pages/forecast: 1x 0.040173053741455s
t_/common/header-new: 1x 0.023434162139893s
t_/common/head: 1x 0.019019842147827s
t_/common/footer-new: 1x 0.0034019947052002s
router_page: 1x 0.001223087310791s
t_/popups/on-download: 1x 0.00072312355041504s
router: 1x 0.00069522857666016s
service-routes: 1x 0.00029301643371582s
router_redirection: 1x 0.00011110305786133s
t_/popups/zoom: 1x 2.5033950805664E-5s
----- END OF DUMP (2021-12-01 16:28:12)  -----