The market has stabilized, the first signs of a downtrend appeared
February 22, 2021 8:44:07 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.267)
-80 p
1.2750
Stop Loss
1.2670
Entry
+70 p
1.2600
Target 1
+100 p
1.2570
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
Buy or Sell
Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The present level of MVP, which is above the current price, favors Sell Orders.
- 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.
