Price has rejected from weekly resistance level in Weekly, Daily and 4H time frame.
From COT report, the net position of CAD is increasing from Feb 2020 but during this period, hedge fund keep closing both long & short positions and eventually started to open some shorts in the latest data. In this situation, we foresee that the price will be pushed to the downside since COT report has shown a minor short positions opened and the price has rejected from the weekly resistance.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.
From COT report, the net position of CAD is increasing from Feb 2020 but during this period, hedge fund keep closing both long & short positions and eventually started to open some shorts in the latest data. In this situation, we foresee that the price will be pushed to the downside since COT report has shown a minor short positions opened and the price has rejected from the weekly resistance.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.