USDCAD - Upward trend will continue, Long trade by market price recommended
September 2, 2019 7:02:40 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.32)
+115 p
1.3440
Target 1
1.3325
Entry
-124 p
1.3200
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Shorts. This means we should continue to Buy USDCAD.
- 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.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- We are focused on the breakdown of the previous peak, the target at the level of 1.344.