Help Ukraine! Today, Ukraine Is Fighting for Freedom and the Future of Democracy in Europe. Help Ukraine! Donate Verified Charity

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

November 23, 2020 3:51:32 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.3035)
15:48
15:48
Nov. 23, 2020

-55 p
1.3150
Stop Loss
1.3095
Entry
+60 p
1.3035
Target 1
+95 p
1.3000
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCAD.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. 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
    index: 1x 0.03463888168335s
t_/pages/forecast: 1x 0.030549049377441s
t_/common/header-new: 1x 0.019287824630737s
t_/common/head: 1x 0.015805006027222s
t_/common/footer-new: 1x 0.0025320053100586s
router_page: 1x 0.0018389225006104s
router: 1x 0.00081896781921387s
t_/popups/on-download: 1x 0.00053596496582031s
service-routes: 1x 0.00029993057250977s
router_redirection: 1x 0.00013589859008789s
t_/popups/zoom: 1x 5.1975250244141E-5s
----- END OF DUMP (2022-05-22 03:45:05)  -----