The market has stabilized, the first signs of a downtrend appeared
May 19, 2021 6:08:29 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.21)
-70 p
1.2170
Stop Loss
1.2100
Entry
+65 p
1.2035
Target 1
+100 p
1.2000
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- The first target is at the level of the previous bottom - 1.2035, and the second one, in case of an active price decrease, is at the level - 1.2
