USD/CAD probes monthly pivot point

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The overall larger trend for the Canadian dollar is that we're likely to go lower."
- Cambridge Global Payments (based on Reuters)

Pair's Outlook

USD/CAD has just established a new accelerated up-trend that suggests a bullish outlook as long as support at 1.3166 (reinforced by the 55-day SMA) remains intact. The immediate resistance is at 1.3260, and this level could potentially delay further development of the advancement from 1.2840. However, considering the weekly technical indicators, the bulls should eventually push through the obstacle, and this will expose the September high at 1.3455.

Traders' Sentiment

There was no change spotted in the neutral attitude of the market towards USD/CAD: 47% of positions are long and 53% are short. On the other hand, there was a large move in the orders, where the share of buy ones plummeted from 79 to 37%.

© Dukascopy Bank SA

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.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.