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USDCAD - Upward trend will continue, Long trade by market price recommended

September 23, 2022 7:02:04 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3565)
7:02
7:02
Sep. 23, 2022

+110 p
1.3600
Target 2
+75 p
1.3565
Target 1
1.3490
Entry
-90 p
1.3400
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  4. The first target is at the level of the previous peak - 1.3565, and the second one, in case of an active price increase, is at the level - 1.36
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