- 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.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- 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.
- 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
Chart & Analyst Comments
