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

January 27, 2020 7:16:01 PM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.318)
19:11
19:11
Jan. 27, 2020

+69 p
1.3250
Target 1
1.3180
Entry
-60 p
1.3120
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 Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. MVP line is below the price and acts as a support level.
  5. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.