The market has stabilized, the first signs of a downtrend appeared

August 26, 2021 6:55:12 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.262)
6:53
6:53
Aug. 26, 2021

-75 p
1.2720
Stop Loss
1.2645
Entry
+75 p
1.2570
Target 1
+110 p
1.2535
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.257, and the second one, in case of an active price decrease, is at the level - 1.2535