© Dukascopy Bank SA
- National Bank of Canada (based on Bloomberg)
Pair's Outlook
The Canadian Dollar depreciates further, as USD/CAD continues to be driven by bullish incentives. Today the pair sharply gained, erasing previous session losses. Currently the price is above the Bollinger band, pointing out at an enlarged probability of a correction or consolidation in the near future. Also the price is close to a peak at 1.0342, which was posted on 1st of March.
Traders' Sentiment
SWFX marketplace investors have a huge share of long positions (74%) and enjoy every step higher. Waiting orders segment is also heavily bullish, since 70% of orders are to go long, waiting for a moment to purchase the greenback against the Canadian currency.
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