USD/CAD rather volatile, but stable

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The US dollar will stay under pressure as they continue to print money - more supply of US dollars keeps it under pressure and will be the dominant factor certainly for the first half of next year."
- HiFX (based on The National Business Review) 

Pair's Outlook

Pair demonstrating above average volatility, but is remaining rather stable between weekly and monthly PP.  It is likely that after new year we will see a bullish impetus from one of the support levels and pair will try to inch up to parity condition. It is unclear how long pair will manage to stay there, but long term outlook is rather grim and point at 0.985 area.

Traders' Sentiment

After rather calm last week, bulls got rid of 4% of their holdings and at the moment they account for 61% of traders in the market. Distribution of pending orders changed as well—market participants have exchanged 5% of pending long orders in to short orders making the allocation 55% to 45% still in favour for the bulls.

© Dukascopy Bank SA

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