USD/CAD has continued higher for a fourth day, but I suspect this is part of a countertrend move around a larger move lower.
Market positioning his extreme levels of record short exposure to CAD futures last year, and many of these bears refused to return despite USD/CAD continuing higher. The sharp reversal lower from 1.48 also suggests we have seen a significant top on the pair.
I am now seeking evidence of a swing high around the 1.4386 HVN (high-volume node) and for momentum to realign with the sharp selloff witness at 1.48.
Matt Simpson, Market Analyst at City Index and Forex.com
Market positioning his extreme levels of record short exposure to CAD futures last year, and many of these bears refused to return despite USD/CAD continuing higher. The sharp reversal lower from 1.48 also suggests we have seen a significant top on the pair.
I am now seeking evidence of a swing high around the 1.4386 HVN (high-volume node) and for momentum to realign with the sharp selloff witness at 1.48.
Matt Simpson, Market Analyst at City Index and Forex.com
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。