Looking at CXY medium to long term, it has been in a hectic downtrend since 2011 mid-year. This tells me that there is a lot of underlying bearish
momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note,
Could we possible expect a continuation of the preceding downtrend and a...
Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right 🥺
The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle.
=> A possible breakdown can also now be met...
This is the weekly analysis for the week commencing 28.06.2020
-Traders will do the same thing over and over again.
-In trading, no one to blame and no one to question what price did.
-Price can break any low/High because anything can happen.
If you fully allign your thinking in line with the truth about the market then you will win.
So on the CXY we have an incomplete Bat Pattern we see PA enterered the PRZ and was severly rejected without completing the pattern. We need the entire box to be tested before the pattern is complete.
So, on the COT what we have are the Consumers and Producers buying and selling to eachother. As open interest has increased but the Non-Coms have reduced both...
Okay, here is why I decided to learn and study the COT. the pattern is a bearish bat pattern with a permissible tolerance of 3% of the B-point. Its a gorgeous pattern and could possibly go long term; however, i dont see it happeneing. The pattern is showing a sell and the COT which reports the big players positions a potential buy. so i would say approach the CAD...
I think if the price breaks the 75.0 level it will go up to around the 76.2 and the 76.9
if he doesn't he will just go between the 71.5 : 73.8 and make a new horizontal channel
guys this is without the fundamental analysis
I will make an Update to this with the fundamental analysis