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- BNP Paribas (based on WBP Online)
Pair's Outlook
As was forecasted, the USD/CAD edged up on Monday. The pair experienced minor volatility and settled at 1.2226, within the borders of the predicted price range. The Greenback is likely to rise against the Loonie today as well, as a correction is still taking place. The closest resistance rests at 1.2312, represented by the 23.60% Fibonacci retracement and the weekly PP; however, the Buck lacks the strength to reach that far. Furthermore, the trading session should end with the pair stabilizing around 1.2250.
Traders' Sentiment
Market sentiment among SWFX traders slightly improved, with 67% of traders now being long the Buck (previously 66%). At the same time, the share of sell orders is now 69%
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