Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer: Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trading tips for USD/CAD

07:05 2023-04-20 UTC--5

Good day, traders! USD/CAD has been bearish since March, accompanied by periodic pullbacks, which can be observed right now. This situation has formed buyer liquidity in the range of 1.32600-1.32300.

Now, there is a five-wave pattern, in which wave 4 is already ending. Traders can jump-start wave 5 by opening short positions, with stop loss set at 1.35500. Take profit upon the breakdown of 1.32600 and 1.32300.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and don't forget to control the risks! Have a nice day.

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Stock market analytics, financial forecasts

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