USD/CAD Consolidation [Bearish Tendency]
Updated
Full Analysis for USD/CAD:
Technical Analysis:
- Monthly:
- Weekly:
- Daily:
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Market Sentiment:
- Position Ratios:
- Orders Volume:
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Commitment of Traders: (Non Commercial)
- Long Positions:
Technical Analysis:
- Monthly:
- Bearish Trend.
- Rejected the 76.8% Fibonacci Level.
- Weekly:
- Still on Bullish Trend .
- Keeps Retesting the (50%) Fibonacci Level.
- Ranging Between 1.350 and 1.365
- Daily:
- Entered the Consolidation Zone with a current bullish Trend .
- Currently Retesting The Weekly Resistance.
- Ranging Between 1.355 and 1.365
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Market Sentiment:
- Position Ratios:
- 53:47 Bull:Bear Position Ratio (- Hesitation between the daily traders -)
- 25:25 Profit:Loss Bull Position Ratio (- Stop Loss Hunting Might hit the 1.360 -)
- 8:38 Profit:Loss Bear Position Ratio (- Stop Loss Hunting Already Triggered at 1.369 -)
- Orders Volume:
- 2.7% Net Sell Stops at 1.360
- 1.6 Net Buy Stops at 1.371
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Commitment of Traders: (Non Commercial)
- Long Positions:
- Net Long Position Volume Decreased from 58198 to 43686. (- Since May 19 2020 -)
- Average Decrease of Long Position with around 2400 / Week.
- Short Positions:- Net Short Position Volume Fluctuated between 23142 and 22852. (- Since May 19 2020 -)
- Average Fluctuation showing a Hedging reposition between the 1.40 and 1.33. (- With an increasing Lower Net Shorting -)
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Forecast:
- Daily:- Bearish Movement to reach 1.36 (- Stop Loss Hunting -)
- One More retest of the 1.37 (- Stop Loss Hunting -)
- Weekly:- End of the Partial Bullish Trend to Enter a Consolidation Area.
- Monthly:- Further Bearish Movement that might retest the Historic 1.30.
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This Analysis is considered as a personal opinion and overview over the market.
Trade Wisely
- Further Bearish Movement that might retest the Historic 1.30.
- End of the Partial Bullish Trend to Enter a Consolidation Area.
- Bearish Movement to reach 1.36 (- Stop Loss Hunting -)
- Net Short Position Volume Fluctuated between 23142 and 22852. (- Since May 19 2020 -)
Trade closed: target reached
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