USD/CAD seems to be range bound

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Other than during the 10-minute window of press release analysis, the Canadian dollar is likely to continue to trade on global risk-on/risk-off more than monetary policy." 
- Citigroup (based on The Financial Times)

Pair's Outlook

For the second week pair seems to be range bound between 0.995 and 0.990. It seems such situation is bound to continue due to lack of conclusive reading from technical indicators and presence of strong support and resistance levels  close to current trading price.

Traders' Sentiment
Market attitude towards the pair remains strongly bullish as exactly two thirds of traders hold long positions on the pair. And the distribution of pending orders does no suggest any major changes as bears and bulls have posted almost identical proportions of orders.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.