USD/CAD Consolidation [Bearish Tendency]

Full Analysis for USD/CAD:

Technical Analysis:
- Monthly:

• Bearish Trend.
  
• Rejected the 76.8% Fibonacci Level.
  

- Weekly:

• Still on Bullish Trend .
  
• Keeps Retesting the (50%) Fibonacci Level.
  
• Ranging Between 1.350 and 1.365
  

- Daily:

• Entered the Consolidation Zone with a current bullish Trend .
  
• Currently Retesting The Weekly Resistance.
  
• Ranging Between 1.355 and 1.365
  

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Market Sentiment:
- Position Ratios:

• 53:47 Bull:Bear Position Ratio (- Hesitation between the daily traders -)
  
• 25:25 Profit:Loss Bull Position Ratio (- Stop Loss Hunting Might hit the 1.360 -)
  
• 8:38 Profit:Loss Bear Position Ratio (- Stop Loss Hunting Already Triggered at 1.369 -)
  

- Orders Volume:

• 2.7% Net Sell Stops at 1.360
  
• 1.6 Net Buy Stops at 1.371
  

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Commitment of Traders: (Non Commercial)
- Long Positions:

• Net Long Position Volume Decreased from 58198 to 43686. (- Since May 19 2020 -)
  
• Average Decrease of Long Position with around 2400 / Week.
  - Short Positions:
  
• Net Short Position Volume Fluctuated between 23142 and 22852. (- Since May 19 2020 -)
  
• Average Fluctuation showing a Hedging reposition between the 1.40 and 1.33. (- With an increasing Lower Net Shorting -)
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  Forecast:
  - Daily:
  
• Bearish Movement to reach 1.36 (- Stop Loss Hunting -)
  
• One More retest of the 1.37 (- Stop Loss Hunting -)
  - Weekly:
  
• End of the Partial Bullish Trend to Enter a Consolidation Area.
  - Monthly:
  
• Further Bearish Movement that might retest the Historic 1.30.
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  This Analysis is considered as a personal opinion and overview over the market.
  Trade Wisely

Trade closed: target reached