© Dukascopy Bank SA
"Our forecast is for it to go to 91 cents (U.S.) in the third and fourth quarters this year. It could be a few cents lower in the very near term and then level off after that."
- BMO Capital Markets (based on The Star)
Pair's Outlook
Pair continues to appreciate and after some struggle with 2013 high it is aiming to advance above the 2010 high. If it will be breached 1.0899/1.0900 area should be the one which could fail the pair. In such case it might dip till 2013 high, but should stall there. Worst case scenario should be associated with 1.0723/11 area, but is highly unrealistic in the short term at the moment.
Traders' Sentiment
Bulls are trying to recover further. At the moment they account for 56%, 3% more than yesterday, of market participants. In addition, share of pending long orders increased by 13%, till 48%, in 50 pip range and by 12%, till 54%, in 100 pip range
© Dukascopy Bank SA