aromanFX
Long

Buy Limit CAD/NZD @ 1.1870

FX_IDC:CADNZD   CANADIAN DOLLAR / NEW ZEALAND DOLLAR
Buy Limit
CAD/NZD @ 1.1870
SL - 1.1800 (-70 pips)
TP1 - 1.2040 (+170 pips]
TP2 - 1.2100 (+230 pips)

Fundamental Analysis

i. 10.15.2019 COT Reports show ~67,000 orders from non-commercial entities (Banks) Longing the CAD and ~56,500 orders shorting the NZD.
ii. 2Y Canadian Bonds show a Bearish trend .
iii . If the price of the 2y Bond goes down, the Yield goes up. If Yield goes up, the price goes up.

Technical Analysis

iv. Daily chart shows Support @ 1.1855 and Resistance @ 1.2050.
v. To play it safe and get a cheaper price; 4H chart shows a good level of entry just above the 1.1855 Support between 1.1860 and 1.1880, hence the buy limit @ 1.1870.
vi . Fibonacci Retracements from the swing low to the swing high show the 1.1855 Support right in between the 0.236 and 0.382 levels.
vii . SL placed @ the 0.382 level (1.1800). *Thought about placing SL at the 0.05 level of 1.1695 but due to the quality of information from the COT reports i didn't see a necessity for it. Hopefully I'm right. *fingers-crossed*
viii. TP1 placed 10 pips below the 1.2050 Resistance (1.2040).
ix. TP2 placed 10 pips below what looked like another resistance just below the 1.2128 swing high.
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