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

March 19, 2020 9:23:55 PM by Patrick Yang
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.4275)
Start
End
Mar. 20, 2020
Mar. 27, 2020

+260 p
1.4750
Target 1
1.4490
Entry
-215 p
1.4275
Stop Loss
Chart & Analyst Comments
USDCAD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 1.449. This idea is based on the following analysis:

  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.