© Dukascopy Bank SA
At the beginning of month USD/CAD set this year's high at 1.1467, since then we have seen a short-term bearish correction. Yet we expect the pair to prolong its up-trend and that most likely the 1.15 level will be approached. This technical indicators confirm this scenario as the daily and weekly ones are pointing to the upside, while an overwhelming majority (72%) of the SWFX market participants have opened long positions on the pair.
© Dukascopy Bank SA