Note: This section contains information in English only."USD strength continues to be a broader theme that many are still watching, but we have recently noted that DXY is found resistance in the medium-term."
– Tyler Yell, Daily FX
Pair's Outlook
[ANNOUNCE]The US Dollar remained near the opening price against the Canadian Dollar by the middle of Thursday's trading session.[/ANNOUNCE] However, the rate was more volatile to the downside, as the Loonie attempted to break past the weekly S2 and the 100-day SMA, which are respectively located at 1.3283 and 1.3261. However, the big news is the fall the Greenback experienced against the Loonie on Wednesday, as the currency exchange rate fell by one percent during the session. It is likely that the rate will continue to move lower in the upcoming sessions.
Traders' Sentiment
SWFX traders have once more increased their long positions, as 72% of open positions were long on Thursday, compared to 70% previously. In the meantime, trader set up orders have become neutral.
Thu, 05 Jan 2017 16:03:39 GMT
Source: Dukascopy Bank SA
– Tyler Yell, Daily FX
Pair's Outlook
[ANNOUNCE]The US Dollar remained near the opening price against the Canadian Dollar by the middle of Thursday's trading session.[/ANNOUNCE] However, the rate was more volatile to the downside, as the Loonie attempted to break past the weekly S2 and the 100-day SMA, which are respectively located at 1.3283 and 1.3261. However, the big news is the fall the Greenback experienced against the Loonie on Wednesday, as the currency exchange rate fell by one percent during the session. It is likely that the rate will continue to move lower in the upcoming sessions.
Traders' Sentiment
SWFX traders have once more increased their long positions, as 72% of open positions were long on Thursday, compared to 70% previously. In the meantime, trader set up orders have become neutral.