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

June 20, 2022 10:15:12 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.2985)
Jun. 20, 2022

+115 p
Target 2
+90 p
Target 1
-95 p
Stop Loss
Chart & Analyst Comments
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. A long-lasting signal provided by Profit Ratio may indicate that the price is out of range movement. A continual signal from the Profit Ratio during the downtrend is natural and should not be considered as a reversal signal.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.3075, and the second one, in case of an active price increase, is at the level - 1.31
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