USDCAD: 2ND IMPULSE LOWER TO 1.30 ? Short
U.S. Dollar/Canadian DollarFXCM
Description
⋅ Looking for a drop to 1.30 big figure
- COT: Looks like Institutional switching from acc. to dist. CAD shorts
- COT: USD longs in dist. mode since Q4-22
- COT: Both developments spell more downside for USDCAD
- Pivots: Q1-23 starts with selling the Qarterly Pivot
- Pivots this predicts Quarterly S2
- TA: Daily downtrend evolving with a HH > HL > HH > HL printing
- Levels: Stops resting below 1.3250 / 1.30 as downside target = QMS2