The Canadian Dollar Futures (6C1!) remain in a downtrend, now testing a critical monthly supply zone after an initial rejection. With Commercials heavily short, Smart Money flat, and Retail traders still bullish, this setup favors another potential downside move. Traders should watch for a retest or breakout spike for optimal short entries.
COT Report: Who’s Betting on the Loonie?
Commercials (Big Players): Increasing short positions, signaling expectations of further downside.
Non-Commercials (Smart Money): Flat, showing hesitation—no strong conviction in either direction.
Retail Traders: Still net long, often a contrarian indicator at key turning points.
This alignment suggests that while momentum may see short-term bounces, the broader trend remains bearish.
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COT Report: Who’s Betting on the Loonie?
Commercials (Big Players): Increasing short positions, signaling expectations of further downside.
Non-Commercials (Smart Money): Flat, showing hesitation—no strong conviction in either direction.
Retail Traders: Still net long, often a contrarian indicator at key turning points.
This alignment suggests that while momentum may see short-term bounces, the broader trend remains bearish.
✅ Please share your thoughts about 6C1! in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
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✅ TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🟪 Instagram: instagram.com/forexn1_com/
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🟪 Instagram: instagram.com/forexn1_com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.