USDCAD: 2ND IMPULSE LOWER TO 1.30 ?

21 Oca 2023

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