"It is becoming apparent that the Loonie has potentially entered a near to medium-term downtrend over the past few sessions."
— Matthew Ashley, Blackwell Global (based on investing.com)
Pair's outlook
By the middle of Tuesday's trading the Greenback had continued to lose ground against the Loonie. However, the Buck did made a failed attempt to regain losses against the Canadian Dollar. The currency exchange rate had reached higher to the weekly S1, which is located at the 1.3649 level, but the pair failed to clearly break through the resistance. Afterwards, a decline followed, which is most likely going to continue until the pair reaches the combined support of the weekly S2 at 1.3583 and the 50.00% Fibonacci retracement level at 1.3574.
Traders' sentiment
SWFX traders are not changing their opinion, as 72% of open positions are short. In addition, 66% of trader set up orders are to sell the Buck.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -44% | -44% | -44% | |
| Orders | -32% | -26% | -32% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Buy | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |