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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Total votes: 6
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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 going only long at this time.
- 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.
- 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.