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- St-Arnaud, a former Bank of Canada economist (based on Bloomberg)
Pair's Outlook
The USD/CAD pair touched the weekly PP at 1.194 and rebounded a little from the level, up to the last Friday open. Generally, the Monday trading session started a couple of pips lower and bears had enough power to push the cross lower. Meanwhile, it looks like the USD/CAD is currently overbought a little. In addition, the pair is trading above the 55– 100– and 200– SMA's since September 2014.
Traders' Sentiment
57% of all the market participants foresee the USD to strengthen versus the USD and are holding their positions long. Meanwhile, 67% of 50– pip pending orders are long, 17% more from the last update. And the 100– pip orders are set on a bullish side for 79% of the case.
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