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

March 18, 2022 1:21:21 PM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (1.2580)
Mar. 18, 2022

-65 p
Stop Loss
+70 p
Target 1
+100 p
Target 2
Chart & Analyst Comments
  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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