© Dukascopy Bank SA
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
The loonie cannot find any reasonable support level, as the price sharply depreciates towards the weekly S1 at 1.0111. Most possibly the price is under bullish pressure, since the majority of traders are ready to purchase the pair at the major support level at 1.0111/1.0093, where the weekly S1 merges with the 100-day SMA, monthly S1 and the lower Bollinger band.
Traders' Sentiment
Continuing the downside movement tempts traders to open long positions and exploit potential corrections. The buy side increased by 2% and reached a 70% share. Pending orders segment is bullish, as 74% of waiting orders are ready to open long positions.
© Dukascopy Bank SA