USDCAD 26/04/2020
As my previous analysis, the price is rejected from the support area perfectly and start to be pushed to upside. I have entered a but entry and start to risk-free my trade.
From the COT perspective, hedge fund has been closing a lot of CAD long positions during the CAD in a downtrend which means the bearish of CAD is because of closing a lot of long positions instead of opening short positions. In the latest data, Hedge Fund have added more short position than long position, which means CAD has a significant direction of bearish in the market. Thus, USDCAD is going to be pushed to upside.
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
From the COT perspective, hedge fund has been closing a lot of CAD long positions during the CAD in a downtrend which means the bearish of CAD is because of closing a lot of long positions instead of opening short positions. In the latest data, Hedge Fund have added more short position than long position, which means CAD has a significant direction of bearish in the market. Thus, USDCAD is going to be pushed to upside.
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.