The market has stabilized, the first signs of an uptrend appeared

February 20, 2020 7:37:58 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3255)
7:24
7:24
Feb. 20, 2020

+50 p
1.3325
Target 1
1.3275
Entry
-50 p
1.3225
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.