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"The strong retail sales number this morning combined with the better third reading of the U.S. GDP were both positive for the Canadian dollar."
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
After finishing in rather disappointing tone yesterday pair started today with a blast—it appreciated 20 pips in the first 4 hours, which was followed by a minor set back slightly above 0.99 and rocketed another 25 pips in next 4 hours. Although pairs outlook is neutral it seems that pair gained momentum and we should see an attempt to breach 0.995 rather soon. However, a lot of attention should be focused on 55-day SMA.Traders' Sentiment
Greenback remains the most bought major currency across the board which allows to explain big part of the fact that market is strongly bullish-69% of traders hold long positions on the pair. Pending orders do not suggest any changes as they are in perfect equilibrium between long and short traders.
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