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. Majority of traders are still holding onto Shorts. This means we should continue to Buy USDCAD.
  2. The Profit Ratio reversal 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 set lower than this cluster.
  4. These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.