USDCAD 16/05/2020
From the COT perspective, hedge fund has been adding a lot of short positions in CAD from last few weeks which means CAD is getting weaker now. Also, the data of USD is getting stronger in COT report. Thus, we foresee USDCAD will be pushed to the upside.
In Daily time frame, USDCAD is in a ranging market. However, in 4H time frame, there is a minor support area . Thus, we foresee the price will reject from the Daily time frame and be pushed to the upside from the support.
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.
In Daily time frame, USDCAD is in a ranging market. However, in 4H time frame, there is a minor support area . Thus, we foresee the price will reject from the Daily time frame and be pushed to the upside from the support.
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.
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