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– Kathy Lien, Managing Director of FX Strategy for BK Asset Management (based on investing.com)
Pair's Outlook
During the first half of Friday's trading session the USD/CAD currency exchange rate had no moved far from the opening price, as the pair fluctuated at the 1.3140 level. Previously, during Thursday's trading session the rate retreated lower, but did not reach the forecasted 1.3055 level, where the weekly PP is located at. The reason for that were fundamental news in the US. Due to that fact, the previous forecast of a decline remains in force, as the fundamental market correction just hindered the upcoming retreat of the Greenback against the Loonie.
Traders' Sentiment
Trader bullish opinion regarding the pair persists, as 66% of SWFX open positions are long on Friday. Meanwhile, 56% of trader set up orders are to buy the Greenback.
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