USD/CAD erodes 1.0485

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"After the Bank of Canada statement, which I think was fairly neutral to the Canadian dollar, that just allowed Canada to play catch-up with the uncertainty out of the way."
- Scotiabank (based on Reuters)

Pair's Outlook

As feared, the weekly pivot point was unable to rekindle interest of traders in the U.S. Dollar. This allowed USD/CAD to dip down to the weekly S1 at 1.0485, which also has a low possibility of stopping the pair from falling down to 1.0455. There the bearish tendency is likely to be reversed, though the bullish outlook will be topical as long as the rising support line at 1.0367 is not violated.

Traders' Sentiment
From the most recent changes in the SWFX sentiment we may conclude that the traders have taken the advantage of cheaper U.S. Dollar, since the portion of longs rose to 73%. Meanwhile, the distribution between the buy and sell orders is 59% to 41% accordingly.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.