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

July 18, 2019 4:46:29 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.303)
4:44
4:44
Jul. 18, 2019

-60 p
1.3110
Stop Loss
1.3050
Entry
+55 p
1.2995
Target 1
Chart & Analyst Comments
USDCAD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.