Extreme trader sentiment points to possible USDCAD downtrend

27 juin 2019

The Trend Follower Strategy has just sold USDCAD at 1.316. The system recommends entering this trade at any price between 1.31456 and 1.31744. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.52292. This suggests that the USDCAD could be trending downwards.The 14-period Average True Range on a daily chart is 0.00574, so the stop loss has been set at 1.32174. This stop loss order is a trailing stop that will move down as the market moves down. There is no profit target for this strategy. We expect to be closed by the stop loss.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5.

Signal ID: 66354
Time Issued: Wednesday, 26 June 2019 08:00:16 GMT
Status: open
Entry: 1.31456 - 1.31744
Limit: N/A
Stop Loss: 1.32174

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.