The market has stabilized, the first signs of an uptrend appeared
July 29, 2019 4:39:19 PM
Forecast Details
PairUSDCAD
Direction
Buy
StatusClosed (1.322)
+90 p
1.3220
Target 1
1.3130
Entry
-84 p
1.3045
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on USDCAD. As a result, we recommend considering only Long trades at this time.
- The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.