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

December 22, 2021 11:58:50 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.2835)
11:52
11:52
Dec. 22, 2021

+65 p
1.2965
Target 1
1.2900
Entry
-65 p
1.2835
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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 Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of USDCAD price is expected.
  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. MVP line is below the price and acts as a support level.
  5. We are setting Stop Loss for our Buy trade at the level with the lowest amount of stop losses of other market participants.
  6. The SLC indicator displays a cluster of Stop Losses and Stop orders at the previous high level, which according to our forecast, is good for placing Take Profit.
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