© Dukascopy Bank SA
- Royal Bank of Canada (based on Reuters)
Pair's Outlook
Since the middle of the last week pair's appreciation has gone hand in hand with the 100-day SMA. Therefore, we think that the greenback will maintain its bullish bias and look forward to approach the weekly R1 and 55-day SMA at 1.1055/62. All in all we expect to see a rather stable advance without significant declines. The majority of technicals are supporting bullish movement.
Traders' Sentiment
At the moment of writing 56% of the SWFX market participants are expecting the U.S. Dollar to gain in value versus the Canadian peer. Concerning the orders placed 100 pips from the spot, there are now slightly less commands to buy—49% compared to yesterday's 53%.
© Dukascopy Bank SA