Sentiment in USD/CAD is neutral - Technical Analysis - Dukascopy Bank

Tue, 19 Jun 2012 16:09:57 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA
"Any signs that the Fed is trying to provide a bit of stimulus will be much-wanted relief."
- Mizuho Corporate Bank Ltd (based on Bloomberg)

Pair's Outlook
USD/CAD paired previous daily losses as the US building permits rose more than forecast (0.78 act./0.73M est.). If the bearish mood emerges, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0110 (S2 Weekly; Lower Bollinger band) and 1.0003 (100-day ma; S3 Weekly).

Traders' Sentiment
Compared to yesterday market sentiment data, bearish sentiment faded as only 54% of investors hold short positions. Within 100-point range from the present market price, 61% of market participants expect a continuation of bullish trend.
© Dukascopy Bank SA

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