EN

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

Patrick Yang on FXSSI Patrick Yang Expert
main-buy-market-trend-1
Forecast Details
PairUSDCAD
Publication Time9/2/19 7:02 PM
Direction Buy
Status Closed (1.3200)
Sep. 2, 2019
Sep. 9, 2019
Forecast
+115 p
1.3440
Target 1
1.3325
Entry
-125 p
1.3200
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  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. We are focused on the breakdown of the previous peak, the target at the level of 1.344.
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