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– Jamie Saettele, Daily FX
Pair's Outlook
The US Dollar did not manage to score additional gains against the Canadian Dollar during Wednesday's trading session, and with it began a decline, which continued to last into Thursday's trading session. The fall of the Greenback against the Loonie was temporary stopped by the lower Bollinger band at 1.2976 and the 23.60% Fibo at 1.2988. A recovery of the US Dollar by the end of the day is unlikely. Due to that it can be assumed that by the end of the day, as the before mentioned levels of support are passed, the pair could fall as low as the 1.29 mark.
Traders' Sentiment
SWFX trader bullish sentiment has increased, as 65% of trader open positions are long, compared to 57% on Tuesday and Monday. In the meantime, 59% of trader set up orders are set up to buy the Buck.
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