USDCAD - Downward trend will continue, Short trade by market price recommended

April 23, 2020 6:09:03 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.4075)
6:07
6:07
Apr. 23, 2020

-60 p
1.4195
Stop Loss
1.4135
Entry
+60 p
1.4075
Target 1
Chart & Analyst Comments
USDCAD - Downward trend will continue, Short trade by market price recommended
  1. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  2. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.