Note: This section contains information in English only."[Trump] hasn't said anything clearly on what he is going to do Once questions arise about if he can really implement policies to improve the economy, the [US] dollar could be sold."
- Sumitomo Mitsui Trust Bank (based on Market Watch)
Pair's Outlook
[ANNOUNCE]The USD/CAD was unable to post significant gains on Thursday, but appreciated nonetheless.[/ANNOUNCE] With the tough resistance cluster around 1.3330 level breached yesterday, the Buck is poised for another rally. However, a strong bullish development is doubtful, as the pair appears to have lost most of its steam after surging on Wednesday. Furthermore, the 1.34 major level is also providing relatively tough psychological resistance, suggesting gains are to be limited. Technical indicators, on the other hand, are unable to confirm the possibility of a rally, as they are giving mixed signals today.
Traders' Sentiment
There are 70% of traders holding long positions today, compared to 69% on Thursday. At the same time, the number of orders to sell the US Dollar dropped dramatically, namely from 63 to 51%.
Fri, 16 Dec 2016 15:53:09 GMT
Source: Dukascopy Bank SA
- Sumitomo Mitsui Trust Bank (based on Market Watch)
Pair's Outlook
[ANNOUNCE]The USD/CAD was unable to post significant gains on Thursday, but appreciated nonetheless.[/ANNOUNCE] With the tough resistance cluster around 1.3330 level breached yesterday, the Buck is poised for another rally. However, a strong bullish development is doubtful, as the pair appears to have lost most of its steam after surging on Wednesday. Furthermore, the 1.34 major level is also providing relatively tough psychological resistance, suggesting gains are to be limited. Technical indicators, on the other hand, are unable to confirm the possibility of a rally, as they are giving mixed signals today.
Traders' Sentiment
There are 70% of traders holding long positions today, compared to 69% on Thursday. At the same time, the number of orders to sell the US Dollar dropped dramatically, namely from 63 to 51%.