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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Total votes: 7
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Chart & Analyst Comments
- Most traders are still bearish, which indicates the need for us to continue to go buying USDCAD.
- The Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
- The activity of "fresh" sellers in an uptrend may indicate that the market crowd still does not believe in a bullish trend.
- We are focused on the breakdown of the previous resistance, the target at the level of 1.344.