USDCAD - Upward trend will continue, Long trade by market price recommended
March 19, 2020 9:23:55 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.4275)
+260 p
1.4750
Target 1
1.4490
Entry
-215 p
1.4275
Stop Loss
About Author
Patrick Yang
Expert
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Total votes: 7
Buy or Sell
Chart & Analyst Comments
For today's forecast, we recommend a Buy Order at this recommended market price - 1.449. This idea is based on the following analysis:
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- Here is the crucial stop loss level to serve as a goal for our Buy trade idea.
