The market has stabilized, the first signs of a downtrend appeared

May 19, 2021 6:08:29 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.21)
6:05
6:05
May 19, 2021

-70 p
1.2170
Stop Loss
1.2100
Entry
+65 p
1.2035
Target 1
+100 p
1.2000
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. 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