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

July 25, 2019 12:17:13 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3185)
12:15
12:15
Jul. 25, 2019

+60 p
1.3185
Target 1
1.3125
Entry
-49 p
1.3075
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. Most traders are still bearish, which indicates the need for us to continue to go buying USDCAD.
  2. The Profit Ratio indicator doesn't react on upward movement. This means that the movement is not fake.
  3. This cluster of orders acts as a support. For our forecast, stop loss is reasonable to move further than this cluster.
  4. These stop losses of market participants coincide with the level of the previous high. This level will serve as the target for our trade.