USDCAD Analysis - Bullish - Trade 04

3 ธ.ค.

1. Seasonality

The CAD is bullish during the first week of December, while the USD exhibits bearish momentum. This combination suggests a bearish outlook for USDCAD based on seasonality.

2. COT Report

The COT report for the CAD suggests a sell. On the other hand, the COT report for the USD suggests a buy, indicating increasing strength for the USD. This could provide upward pressure on USDCAD.

3. Fundamental Analysis

LEI

The USDCAD LEI is increasing, which signals potential strength for the USD and could favor upward movement in USDCAD.

Endogenous Factors

The endogenous factors for the USD are increasing, suggesting bullish momentum for the USD, while the CAD's endogenous factors show weakness, further supporting a potential rise in USDCAD.

Exogenous Factors

Exogenous indicators for USDCAD show a decreasing trend, suggesting some resistance to further bullish momentum, which could limit the upside potential of USDCAD.

4. Technical Analysis

USDCAD is forming an ABCD pattern, with the C point retracement at the 0.79 Fibonacci level.

Bias

The combined analysis suggests a bullish bias for USDCAD

Trade Plan

Entry: 1.40481
SL: 1.39756
TP: 1.41206

8 ธ.ค.

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