- 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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- 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.
Chart & Analyst Comments
