- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.244, and the second one, in case of an active price decrease, is at the level - 1.2415
USDCAD - Downward trend will continue, Short trade by market price recommended
January 20, 2022 9:33:56 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2560)
-65 p
1.2560
Stop Loss
1.2495
Entry
+55 p
1.2440
Target 1
+80 p
1.2415
Target 2
Chart & Analyst Comments
