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

February 22, 2021 8:44:07 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.267)
8:28
8:28
Feb. 22, 2021

-80 p
1.2750
Stop Loss
1.2670
Entry
+70 p
1.2600
Target 1
+100 p
1.2570
Target 2
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. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The present level of MVP, which is above the current price, favors Sell Orders.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.