The market has stabilized, the first signs of a downtrend appeared
May 19, 2020 8:03:24 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.3915)
-60 p
1.4010
Stop Loss
1.3950
Entry
+55 p
1.3895
Target 1
+80 p
1.3870
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
