USDCAD Update:
Initially, I expected USDCAD to reach its weekly historical high, but it reversed instead. This setback is normal.
Key points:
- Draw on liquidity is the weekly order block
- No fear, all losses will be recovered
From the weekly starting point, this is the top-down analysis on EURUSD and USDCAD Looking from the last cot report that was released, we saw the non-commercials heavily net short on the Canadian dollar, which is the catalyst for the big buy we saw on USDCAD, and the net short on the EURO dollar, which is also the catalyst for the huge sell-off of EURUSD. the live...
BTC/USD Technical Analysis:
A bearish trend is emerging after price hit all-time highs. Negative momentum is building, with potential support at $69.6k, a key level to watch.
USDCAD has been trending strongly upwards over the past 3 months, with price action indicating a potential push towards the weekly high to seek liquidity. Notably, the previous resistance level has flipped into support, providing a bullish foundation.
From a fundamental perspective, the latest COT report reveals that non-commercials are aggressively selling their...
Last week's price drop from $108k to $104k appears to be a fake rally to the downside. The latest COT report reveals that long positions continue to increase, while short positions decrease. This suggests that commercials remain bullish and are positioning themselves for a potential price increase, indicating a strong interest in taking BTC higher.
Ethereum's price aggressively sold off last week, hitting the weekly key resistance level. However, the reaccumulation seen on the higher timeframe charts suggests a bullish story. Notably, non-commercials have maintained their long-term buy program on Ethereum.
EUR/USD appears bearish, according to the latest COT report. Non-commercials have increased net short positions on EUR, with 71% short and 29% long, indicating a strong bearish sentiment.
EUR/USD appears bearish, according to the latest COT report. Non-commercials have increased net short positions on EUR, with 71% short and 29% long, indicating a strong bearish sentiment.
