MohamedYAbdelaziz

USD/CAD Consolidation [Bearish Tendency]

Short
MohamedYAbdelaziz Mis à jour   
FX:USDCAD   Dollar Américain / Dollar Canadien
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 -)
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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.
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