In Daily time frame, price had rejected at Fib level 0.00, whereas in 4H time frame, there is a potential inverted Head & shoulders forming.
In COT report, the net position of CAD is decreasing with closing a lot of long positions from previous weeks ago. However in the latest data, hedge fund seems to have interest on buying long position. In this situation, we foresee that CAD will be getting stronger in the future. But, the strength of CAD is still weaker than EUR.
In conclusion, combine both technical analysis and COT report, we may seek for a long position entry for this EURCAD.
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.
In COT report, the net position of CAD is decreasing with closing a lot of long positions from previous weeks ago. However in the latest data, hedge fund seems to have interest on buying long position. In this situation, we foresee that CAD will be getting stronger in the future. But, the strength of CAD is still weaker than EUR.
In conclusion, combine both technical analysis and COT report, we may seek for a long position entry for this EURCAD.
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.