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– based on Forex Crunch
Pair's Outlook
The US Dollar on Monday reached since May unseen heights against the Canadian Dollar, as the currency exchange rate closed the day's trading session at 1.3119. However, the pair lost all of Monday's gains on Tuesday, as the exchange rate started Tuesday's session at 1.3119 and ended it at 1.3043. In addition, during Tuesday's session the pair was low as 1.2980. Midday on Wednesday the USD/CAD pair has slightly moved lower than it started the day, as it was at 1.2990 by 11:15 GMT. However, aggregate daily technical indicator forecasts a surge for the pair today.
Traders' Sentiment
SWFX traders have slightly increased their bullish sentiment, as 66% of open positions are long on Wednesday, compared to 63% on Tuesday. In the meantime, long pending orders in the 100-pip range have decreased by 10%, as on Wednesday they are at 61%.
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