- 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 only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- Price broke through the MVP line and rushed up. We consider this a sign for further USDCAD price increase.
- The first target is at the level of the previous peak - 1.307, and the second one, in case of an active price increase, is at the level - 1.31
The market has stabilized, the first signs of an uptrend appeared
August 29, 2022 12:23:19 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.3100)
+100 p
1.3100
Target 2
+70 p
1.3070
Target 1
1.3000
Entry
-70 p
1.2930
Stop Loss
Chart & Analyst Comments
