© Dukascopy Bank SA
- Cambridge Mercantile Group (based on Reuters)
Pair's Outlook
The greenback is little changed against the Loonie and it trades around the major level at 1.09 as pair's volatility fell to the lowest level in more than two weeks. We expect pair's bulls to push the greenback higher towards the 20-day SMA and monthly PP at 1.0954/64. Nonetheless, it seems that last week's drop has discouraged traders; therefore, also a slip towards the monthly S1 at 1.0859 is possible.
Traders' Sentiment
Share of bulls in the market returned to the Monday's level at 69%, which is a 2% increase since yesterday. Concerning the orders placed 100 pips from the spot, there are no changes since yesterday—51% is bullish.
© Dukascopy Bank SA