USDCAD - Downward trend will continue, Short trade by market price recommended

October 28, 2019 8:02:27 PM by Patrick Yang
Forecast Details
Direction Sell
StatusClosed (1.3145)
Oct. 28, 2019
Nov. 4, 2019

-155 p
Stop Loss
+155 p
Target 1
Chart & Analyst Comments

For today's forecast, we recommend a Sell Order at this recommended market price - 1.3055. This idea is based on the following analysis:

  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. MVP line is above the price and acts as a resistance level.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
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