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

July 27, 2020 8:02:52 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.342)
8:01
8:01
Jul. 27, 2020

-70 p
1.3490
Stop Loss
1.3420
Entry
+70 p
1.3350
Target 1
+120 p
1.3300
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. 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.
  2. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. MVP line is above the price and acts as a resistance level.
  4. The first target is at the level of the previous bottom - 1.335, and the second one, in case of an active price decrease, is at the level - 1.33