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

February 10, 2020 7:46:23 AM by Patrick Yang
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.329)
Start
End
Feb. 10, 2020
Feb. 24, 2020

+144 p
1.3435
Target 1
1.3290
Entry
-140 p
1.3150
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  4. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  5. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.