USDCAD - Upward trend will continue, Long trade by market price recommended
March 23, 2020 7:00:17 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.4275)
+250 p
1.4750
Target 1
1.4500
Entry
-224 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 - 1.45. 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- We are setting Stop Loss for our Buy trade at the level with the lowest amount of stop losses of other market participants.
