USDCAD - Upward trend will continue, Long trade by market price recommended
March 16, 2020 8:50:59 AM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.405)
+185 p
1.4050
Target 1
1.3865
Entry
-165 p
1.3700
Stop Loss
About Author
Patrick Yang
Expert
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Total votes: 11
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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" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
- MVP line is below the price and acts as a support level.
- We are focused on the breakdown of the previous peak, the target at the level of 1.405.
