- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.2565, and the second one, in case of an active price decrease, is at the level - 1.2535
USDCAD - Downward trend will continue, Short trade by market price recommended
March 18, 2022 1:21:21 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2580)
-65 p
1.2700
Stop Loss
1.2635
Entry
+70 p
1.2565
Target 1
+100 p
1.2535
Target 2
Chart & Analyst Comments
