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Pair's Outlook
The US Dollar is in its fourth session of gains against the Canadian Dollar, as the currency exchange rate struggles with the weekly R1 at 1.3123. On Thursday the pair moved from 1.3058 at the start of the day's trading session to 1.3088 by the end of the day. By 11:00 GMT on Friday the pair was at 1.3114, and it had reached above the weekly R1, as the rate had reached the level of 1.3140. Daily aggregate technical indicators forecast that the surge will continue for the rest of the day.
Traders' Sentiment
SWFX traders continue to be majorly bullish on the pair, as 73% of open positions are long. In the meantime, pending orders have become almost neutral, as pending commands in the 100-pip range are 51% long.
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