Extreme trader sentiment points to possible USDCAD uptrend
Signal ID: 70470
Time Issued: Friday, 31 January 2020 11:00:13 GMT
Status: open
Entry: 1.32292 - 1.32502
Limit: N/A
Stop Loss: 1.31977
The Trend Follower Strategy has just bought USDCAD at 1.32397. The system recommends entering this trade at any price between 1.32292 and 1.32502. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.51844. This suggests that the USDCAD could be trending upwards.The 14-period Average True Range on a daily chart is 0.0042, so the stop loss has been set at 1.31977. This stop loss order is a trailing stop that will move up as the market moves up. 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.
Time Issued: Friday, 31 January 2020 11:00:13 GMT
Status: open
Entry: 1.32292 - 1.32502
Limit: N/A
Stop Loss: 1.31977
The Trend Follower Strategy has just bought USDCAD at 1.32397. The system recommends entering this trade at any price between 1.32292 and 1.32502. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.51844. This suggests that the USDCAD could be trending upwards.The 14-period Average True Range on a daily chart is 0.0042, so the stop loss has been set at 1.31977. This stop loss order is a trailing stop that will move up as the market moves up. 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.
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