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

August 28, 2019 9:29:47 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.3305)
9:28
9:28
Aug. 28, 2019

+75 p
1.3380
Target 2
+49 p
1.3355
Target 1
1.3305
Entry
-55 p
1.3250
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering going only long at this time.
  2. The dynamics of the Ratios indicator signals possible buys. Pay attention to the area marked on the image.
  3. The activity of "fresh" sellers in an uptrend may indicate that the market crowd still does not believe in a bullish trend.
  4. The price increase will be accompanied by the trigger of market crowd’s stop losses. This will serve as a "fuel" for the upward movement.