USDCAD - Downward trend will continue, Short trade by market price recommended
November 23, 2020 3:51:32 PM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.3035)
-55 p
1.3150
Stop Loss
1.3095
Entry
+60 p
1.3035
Target 1
+95 p
1.3000
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 0
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell USDCAD.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.3035, and the second one, in case of an active price decrease, is at the level - 1.3
