Note: This section contains information in English only."Regardless of what's happening right now, the [US] dollar's probably going to trade on the back foot today."
- Westpac Banking Corp (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The American Dollar remained almost completely unchanged against its Canadian counterpart on Thursday, having edged only 16 pips lower.[/ANNOUNCE] Technical studies suggest the Greenback is to sustain another loss today, with the closest support being the weekly R2 at 1.2807. Nonetheless, the USD/CAD currency pair appears to be reluctant to decline today. The nearest resistance area is located around 1.29 major level, represented by the weekly R3; furthermore, the Bollinger band is now bolstering this resistance, meaning that gains could extend towards 1.2950.
Traders' Sentiment
Bulls now take up 52% of the market (previously 54%), but the portion of orders to sell the US currency increased by two percentage points more, having risen up to a total of 61%.
Fri, 06 May 2016 15:04:16 GMT
Source: Dukascopy Bank SA
- Westpac Banking Corp (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The American Dollar remained almost completely unchanged against its Canadian counterpart on Thursday, having edged only 16 pips lower.[/ANNOUNCE] Technical studies suggest the Greenback is to sustain another loss today, with the closest support being the weekly R2 at 1.2807. Nonetheless, the USD/CAD currency pair appears to be reluctant to decline today. The nearest resistance area is located around 1.29 major level, represented by the weekly R3; furthermore, the Bollinger band is now bolstering this resistance, meaning that gains could extend towards 1.2950.
Traders' Sentiment
Bulls now take up 52% of the market (previously 54%), but the portion of orders to sell the US currency increased by two percentage points more, having risen up to a total of 61%.