© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar appreciated against the Canadian Dollar on Wednesday, as the currency exchange rate started day's trading session at 1.3022 and ended Wednesday's trading at 1.3058. During the first half of Thursday's session the USD/CAD pair has slightly surged, as the pair was at 1.3066 by 11:15 GMT. A continuation of the surge is most likely due to the fact that there are no resistance points up to the level of 1.3123, where the upper Bollinger band and weekly R1 are located at. In addition, daily aggregate technical indicators forecast a surge for the rest of the day.
Traders' Sentiment
SWFX traders slightly increased their bullish sentiment, as 74% of open positions on Thursday are long. In the meantime, pending orders in the 100-pip range are 34% long.
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