"The US dollar staged a key downside reversal against the Canadian dollar before the weekend. There has been no follow through so far today."
— Marc Chandler, Brown Brothers Harriman (based on investing.com)
Pair's outlook
During the first half of Monday's trading session the Greenback had surged against the Loonie. However, the gains were insignificant, compared with the fall of the second half of Friday's trading session. It might be possible that the long expected and already denied change of direction has occurred, as on Friday the pair fell by 100 base points. The pair will either fall on Monday to the weekly S1, which is located at 1.3596, or surge to the weekly PP at 1.3695. The near future movements of the currency exchange rate will reveal the medium term direction of the pair.
Traders' sentiment
SWFX traders remain bearish on the pair, as 73% of open positions are short, and 71% of trader set up orders are to sell.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -46% | -48% | -48% | |
| Orders | -42% | -34% | -34% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Buy | Buy | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |