USD/CAD trails lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Obviously the upward trend in CAD is strong, but I do think there are limits."
- Bank of Nova Scotia (based on The Globe and Mail) 

Pair's Outlook

Pair continues to trail lower after a failure slightly below 1.09 mark in the middle of the last week. We expect some profit taking to take place around 1.07 mark which should keep the pair stable for some time. It might even ignite a minor rally in the short term. Medium to long term outlook, however, remains bearish and we expect the pair to hit move towards 1.06 in a moderate pace.

Traders' Sentiment

Bullish side of pending orders might have contracted by 10-30% (depending on the range around current market price), but it remains at 70-80% range set to go long. Besides that, bulls hold 71% of all of the open positions on the pair.

© 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.