From the Technical Views:
1. From the weekly perspective, the price was created a big impulse to the downside followed by a correction, we can expect a next move to the downside to complete the creation of the Elliot Corrective Waves.
2. From the daily point of view, the price was created an HNS pattern, we can expect a next move to the downside shortly.
From the Institutional's Views:
1. Overall bearish bias on CAD in the longer-term of view. But in the short-term's view, they are quite bullish on CAD.
2. In the new data, more long and short positions were closed but look at the short term, more long positions are remain opened and short positions keep closed, meaning they are not interested in short CAD at the moment, we can expect some strength arise on the CAD and move USDCAD to the downside.
How to approach USDCAD?
1. Switch to the lower timeframe to find the short opportunity at the moment, if your rules of the strategy are fulfilled.
2. Short immediately is not a good idea, because lower timeframe indicates the overall environment is quite bullish.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on USDCAD.
1. From the weekly perspective, the price was created a big impulse to the downside followed by a correction, we can expect a next move to the downside to complete the creation of the Elliot Corrective Waves.
2. From the daily point of view, the price was created an HNS pattern, we can expect a next move to the downside shortly.
From the Institutional's Views:
1. Overall bearish bias on CAD in the longer-term of view. But in the short-term's view, they are quite bullish on CAD.
2. In the new data, more long and short positions were closed but look at the short term, more long positions are remain opened and short positions keep closed, meaning they are not interested in short CAD at the moment, we can expect some strength arise on the CAD and move USDCAD to the downside.
How to approach USDCAD?
1. Switch to the lower timeframe to find the short opportunity at the moment, if your rules of the strategy are fulfilled.
2. Short immediately is not a good idea, because lower timeframe indicates the overall environment is quite bullish.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on USDCAD.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.