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- Collin Crownover at Global Advisors Inc.'s (based on Bloomberg)
Pair's Outlook
The bullish market participants are constantly trying to bring the USD/CAD pair lower. Therefore, the trades fluctuated today 193 pips, from 1.18 up to 1.199. However, the market left the day with an undefined bearish candle. The pair is slowly sliding down from the Bollinger band at 1.20 level. In addition to that, the RSI is showing a quite overbought condition lately.
Traders' Sentiment
None of the participants are holding the 50– pip pending orders now. However, the 100– pip ones are opened for 29%, down from the previous 74%. Meanwhile, the summary of some indicators continues to be neutral.
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