USD/CAD Consolidation [Bearish Tendency]

Diupdate
Full Analysis for USD/CAD:

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 -)


        • =======================================================

          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.


                    • =======================================================

                      This Analysis is considered as a personal opinion and overview over the market.
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Trading ditutup: target tercapai
Bearish PatternsBeyond Technical AnalysisChart PatternsconsolidationTrend AnalysisUSDCAD

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