The market has stabilized, the first signs of an uptrend appeared
February 20, 2020 7:37:58 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.3255)
+50 p
1.3325
Target 1
1.3275
Entry
-49 p
1.3225
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Here is the crucial stop loss level to serve as a goal for our Buy trade idea.