USDCAD - Downward trend will continue, Short trade by market price recommended
December 18, 2019 6:15:20 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed
-59 p
1.3175
Stop Loss
1.3115
Entry
+60 p
1.3055
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell USDCAD.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The present level of MVP, which is above the current price, favors Sell Orders.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.