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

October 7, 2019 1:58:13 PM by Patrick Yang
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.319)
Start
End
Oct. 7, 2019
Oct. 14, 2019

+109 p
1.3410
Target 1
1.3300
Entry
-110 p
1.3190
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. For a while now, the Current Ratios indicator provides an opportunity for Long trade. We are using this signal as a basis for today’s trading forecast.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. MVP line is below the price and acts as a support level.
  5. 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.