USD/CAD pair stands still

Source: Dukascopy Bank SA
© Image watermark
"As a result of the weaker growth outlook, a dovish Bank of Canada and the need for further adjustment to a lower terms of trade, we believe CAD will continue to depreciate next year."
- St-Arnaud, a former Bank of Canada economist. (based on Bloomberg)


Pair's Outlook
The USD/CAD was little changed on Thursday as the market lost some portion of participants. The cross managed to tick few pips higher from the last update but generally the USD/CAD shoved no move today. Currently, the weekly R3 at 1.233 is the closest support level, whereas the resistance is not that near- 1.246, the 2009 April high.

Traders' Sentiment

While the sentiment from indicators is neutral, half of the trades are long. The 50– pip pending orders are generally set to buy for 67% of the case and the 100– pip ones are bought for 78% of traders.

© Image watermark

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.