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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 (1.3290)
Start
End
Feb. 10, 2020
Feb. 24, 2020

+145 p
1.3435
Target 1
1.3290
Entry
-140 p
1.3150
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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.
    index: 1x 0.035387992858887s
t_/pages/forecast: 1x 0.032084941864014s
t_/common/header-new: 1x 0.020197868347168s
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t_/common/footer-new: 1x 0.0026571750640869s
router_page: 1x 0.0018410682678223s
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t_/popups/on-download: 1x 0.00051498413085938s
service-routes: 1x 0.00032401084899902s
router_redirection: 1x 0.00014019012451172s
t_/popups/zoom: 1x 5.4836273193359E-5s
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