© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar depreciated against the Canadian Dollar on Monday, as it ended day's trading at 1.3154. During the first half of Tuesday's trading session the currency exchange rate was volatile more to the upside, as it touched 1.3190 level at one moment. A surge of the Buck against the Loonie is forecasted by the daily aggregate technical indicators. In addition, the pair does not face any resistance up to the level of 1.3250. However, the rate was at 1.3155 by 11:00 GMT, which most likely is caused by a surge in oil prices on Tuesday at exactly that time.
Traders' Sentiment
Traders increased their bullish sentiment by 2%, as 73% of open positions were long on Tuesday, compared to 71% on Monday. In the meantime, pending commands shifted and were 52% bullish on Tuesday.
© Dukascopy Bank SA