The market has stabilized, the first signs of a downtrend appeared

April 22, 2021 6:29:00 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2475)
6:27
6:27
Apr. 22, 2021

-100 p
1.2630
Stop Loss
1.2530
Entry
+90 p
1.2440
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. MVP line is above the price and acts as a resistance level.
  5. We are focused on the breakdown of the previous bottom, the target at the level of 1.244.