The market has stabilized, the first signs of a downtrend appeared
August 26, 2020 6:46:47 AM
Forecast Details
PairUSDCAD
Direction
Sell
StatusClosed (1.315)
-60 p
1.3260
Stop Loss
1.3200
Entry
+50 p
1.3150
Target 1
+75 p
1.3125
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- 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 decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
- MVP line is above the price and acts as a resistance level.
- The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
