USDCAD - Upward trend will continue, Long trade by market price recommended
October 7, 2019 1:58:13 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.319)
+109 p
1.3410
Target 1
1.3300
Entry
-110 p
1.3190
Stop Loss
About Author
Patrick Yang
Expert
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Total votes: 0
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Chart & Analyst Comments
- For a while now, the Current Ratio indicator provides an opportunity for Long trade. We are using this signal as a basis for today’s trading forecast.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
- MVP line is below the price and acts as a support level.
- These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.
