© Dukascopy Bank SA
- KnightsbridgeFX.com (based on Reuters)
Pair's Outlook
After yesterday, when the greenback breached the major level at 1.09, the pair is trading just above this level. It seems that the pair is starting to form bullish trend; however, we might see some small drops. Ultimately, we expect the greenback to outperform the Loonie and it might approach weekly R2 and monthly PP at 1.0955/64. Nonetheless, pair's decline below the major level at 1.09 is possible as the majority if daily and weekly technicals are bearish.
Traders' Sentiment
The bullish sentiment towards the greenback returned at 69%; however, the amount of bearish traders is at 31%. Concerning the orders placed 100 pips from the spot, there are now slightly more commands to sell—60%.
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