- According to the most brokers’ data, more than half of the traders are currently in long positions on USDCAD. As a result, we recommend considering only Short trades at this time.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- The first target is at the level of the previous bottom - 1.284, and the second one, in case of an active price decrease, is at the level - 1.282
USDCAD - Downward trend will continue, Short trade by market price recommended
July 22, 2022 6:01:05 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.2820)
-55 p
1.2950
Stop Loss
1.2895
Entry
+55 p
1.2840
Target 1
+75 p
1.2820
Target 2
Chart & Analyst Comments
