USDCAD - Upward trend will continue, Long trade by market price recommended

November 19, 2019 8:21:13 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.327)
8:09
8:09
Nov. 19, 2019

+95 p
1.3300
Target 2
+64 p
1.3270
Target 1
1.3205
Entry
-64 p
1.3140
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. The first target is at the level of the previous peak - 1.327, and the second one, in case of an active price increase, is at the level - 1.33