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– Tyler Yell, Forex Trading Instructor (based on Daily FX)
Pair's Outlook
The US Dollar booked a session of gains against the Canadian Dollar on Friday, as the currency exchange rate surged from 1.3005 to 1,3044. During the session, the pair was fluctuating between a bottom at 1.2989 and a top at 1.3090, where it met the upper Bollinger band. In the first half of Monday's trading session, the USD/CAD pair had surged to 1.3061 by 11:30 GMT. Such gains are also in accordance with the daily aggregate technical indicators, which forecasted a surge for the pair today.
Traders' Sentiment
SWFX market bullish sentiment has increased by 1%, as now 59% of open positions are long, compared to Friday's 58%. In the meantime, pending orders in the 100-pip range are 62% long.
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