USDCAD - BULLISH MOMENTUM
As we can see USDCAD has recently started to climb with bullish momentum after previously breaking the bearish structure. It looks as if the Dollar is strengthening, preparing itself for a bullish rally.
Looking at this week's COT data the USD is still overall long while the CAD dollar is overall long too. However, the difference between long and short orders in CAD is 2%, so we would usually indicate this currency is overall neutral in terms of direction.
Looking at seasonals. Once again it's common for the USD to strengthen coming into October while CAD stays overall Neutral in direction.
Looking at this week's COT data the USD is still overall long while the CAD dollar is overall long too. However, the difference between long and short orders in CAD is 2%, so we would usually indicate this currency is overall neutral in terms of direction.
Looking at seasonals. Once again it's common for the USD to strengthen coming into October while CAD stays overall Neutral in direction.
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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.