USDCAD - COT: VERY BULLISH SENTIMENT // Interest Rate: 1.25% (last change – Jul 11, 2018)
W1: Uptrentd from DZ, Break thru monthly trend line.Creating nice demand for longs at 1.2964
D1: Bullish trend, respecting trend line
H4: Reacted bellow suppply zone
Levels to watch:
Supply: 1.322, 1.3296, 1.3325,
Demand: 1.3095, 1.29884, 1.28951
CAD strenghtened last two weeks. Which cause drop on this specific pair. However when interest rates was released the CAD weakened again. Its might because all good news was already priced in and the banks just needed to create liquidity. When positive data was released, retail traders thought they CAD could strentent but oposite happend. As the banks are now masive long 75% and last week added another 3K longs and reduced just a bit shorts 500. This is so bullish.
W1: Uptrentd from DZ, Break thru monthly trend line.Creating nice demand for longs at 1.2964
D1: Bullish trend, respecting trend line
H4: Reacted bellow suppply zone
Levels to watch:
Supply: 1.322, 1.3296, 1.3325,
Demand: 1.3095, 1.29884, 1.28951
CAD strenghtened last two weeks. Which cause drop on this specific pair. However when interest rates was released the CAD weakened again. Its might because all good news was already priced in and the banks just needed to create liquidity. When positive data was released, retail traders thought they CAD could strentent but oposite happend. As the banks are now masive long 75% and last week added another 3K longs and reduced just a bit shorts 500. This is so bullish.
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