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

February 18, 2022 3:02:05 PM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (1.2760)
Feb. 18, 2022

-60 p
Stop Loss
+60 p
Target 1
+80 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. While in flat, the price often crosses the MVP line, since it reflects price balance. Today's short-term Sell forecast aims to cross this line.
  5. The first target is at the level of the previous bottom - 1.264, and the second one, in case of an active price decrease, is at the level - 1.262
    index: 1x 0.03934383392334s
t_/pages/forecast: 1x 0.035374879837036s
t_/common/header-new: 1x 0.022367000579834s
t_/common/head: 1x 0.01829195022583s
t_/common/footer-new: 1x 0.0029120445251465s
router_page: 1x 0.0019500255584717s
router: 1x 0.00091695785522461s
t_/popups/on-download: 1x 0.00053501129150391s
service-routes: 1x 0.00033307075500488s
router_redirection: 1x 0.00013899803161621s
t_/popups/zoom: 1x 5.793571472168E-5s
----- END OF DUMP (2022-11-30 04:44:11)  -----