USD/CAD depressed under 100-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
We'll see C$1.03 by the end of the first quarter. Which is definitely more bearish than the market." 
- Toronto-Dominion Bank (based on Bloomberg)

Pair's Outlook
Pair is starting to give signs of being range bound between 100-day SMA at 0.994 ad weekly PP at 0.9907, although the latter could be simply extended to 0.990.  For the time being it is rather unclear what might be medium to long term outlook as pair seem to be having enough propensity to step up to the parity condition, but lack of conclusive technical readings puts significant pressure on the pair due to the outlook of the major market participants.

Traders' Sentiment

Market attitude towards the pair is remaining bullish at around 60% for quite some time now. Very similar situation is observable today—61% of traders buy greenback versus loonie. Pending orders should keep supporting bulls as well—63% of them are to go long.

© 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.