USD/CAD drops from weekly S1

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The consensus view on the street is that he's probably a pretty dovish candidate that will probably lead to easier monetary policy than we otherwise would have expected." 
- Macquarie Private Wealth (based on Bloomberg)

Pair's Outlook

The loonie is not pampered with strong bullish sentiments, which could potentially support price's growth. Yesterday the pair stepped higher till the weekly S1 and the 100-day SMA at 1.0120, but the momentum was too weak to go higher and today the pair dropped back to the weekly S2 level at 1.0075. USD/CAD still remains within a bullish trend, thus opening long positions might be extremely risky.

Traders' Sentiment
SWFX market is under control of bulls, since the vast majority of orders (74%) are oriented to earn from the Canadian Dollar's depreciation. Pending orders market is bullish with 63% of long orders.
© Dukascopy Bank SA
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Actual Topics

Fri, 03 May 2013 16:06:54 GMT

NZD/USD gains

NZD/USD sharply appreciates since yesterday, as the price was below the weekly PP level at 0.8472, but found bullish momentum and advanced towards the major resistance at 0.8534.

Fri, 03 May 2013 16:06:23 GMT

AUD/USD appreciates from 1.0252

The Australian Dollar is considered as a proxy to risk-on sentiment; thus, after very positive labour data the Aussie pair sharply appreciates.

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