The market has stabilized, the first signs of an uptrend appeared

July 29, 2019 4:39:19 PM by Patrick Yang
Forecast Details
PairUSDCAD
Direction Buy
StatusClosed (1.322)
Start
End
Jul. 29, 2019
Aug. 5, 2019

+90 p
1.3220
Target 1
1.3130
Entry
-84 p
1.3045
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. 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 going only long at this time.
  2. The decrease in the volume of buyers, together with the increase in the volume of sellers, confirms the need to buy, according to our trading idea.
  3. 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 our take profit according to our forecast.