USDCAD - Upward trend will continue, Long trade by market price recommended
February 10, 2020 7:46:23 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.329)
+144 p
1.3435
Target 1
1.3290
Entry
-140 p
1.3150
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- 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.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- Here is the crucial stop loss level to serve as a goal for our Buy trade idea.