© Dukascopy Bank AS
"It looks like it's another day of markets being slightly negative for risk and CAD being carried along by that."
- Adam Cole, RBC Capital Markets (based on Reuters)
Pair's Outlook
The pair has formed a pattern which closely resembles a Double Top formation giving ground for speculations about further appreciation of the pair in the short term. This scenario is highly probable as up to 0.9942 there are no major resistance levels for the pair.
Traders' Sentiment
Trader sentiments remains bullish and hovers above 70% gauge for third straight week. Distribution of pending orders switched in favor for the bulls (perfect equilibrium yesterday) as 61% of orders buy orders.
© Dukascopy Bank AS