© Dukascopy Bank SA
- BMO capital Markets (based on Reuters)
Pair's Outlook
The U.S. Dollar is still struggling to find a bullish impetus, today it slid below the major level at 1.09, though it managed to bounce back above this level. If in longer term we expect the pair to trade closer to the major level at 1.10 then in short to medium term we see the pair trading in range from the weekly PP at 1.0888 to weekly R1 at 1.0962. Also the daily and weekly technical indicators are neutral suggesting that any significant movements are not expected.
Traders' Sentiment
A majority (65%) of the traders believe that the buck is going to regain its bullishness and increase in value relative to the Canadian counterpart. Concerning the orders placed 100 pips from the spot, there are no major changes—52% are set to buy.
© Dukascopy Bank SA