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

March 16, 2020 8:50:59 AM by Patrick Yang
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.4050)
Start
End
Mar. 16, 2020
Mar. 23, 2020
+185 p
1.4050
Target 1
1.3865
Entry
-165 p
1.3700
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" 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
  3. MVP line is below the price and acts as a support level.
  4. We are focused on the breakdown of the previous peak, the target at the level of 1.405.
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