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

March 18, 2022 1:21:21 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2580)
13:21
13:21
Mar. 18, 2022

-65 p
1.2700
Stop Loss
1.2635
Entry
+70 p
1.2565
Target 1
+100 p
1.2535
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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 Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. MVP line is above the price and acts as a resistance level.
  5. 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
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