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- CIBC World Markets (based on Reuters)
Pair's Outlook
In October USD/CAD bounced off the major bullish trend-line (it has been in force for more than a year already). Consequently, there is a good reason to suspect that the U.S. Dollar will not stop to advance here, but will manage to overcome the nearest resistances, such as the weekly PP at 1.0441, and maintain upward trajectory at least until the July high at 1.06 is attained.
Traders' Sentiment
Although the bullish traders of the SWFX marketplace remain in an overwhelming majority over the bearish ones for an extended period of time already, there are still less people believing that USD/CAD is to rise than 24 hours ago—their portion declined from 74% down to 70%.
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