© Dukascopy Bank SA
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
Yesterday the price slipped beneath the 55-day SMA at 1.0160 and settled in the lower part. The price continues to depreciate further today, the loonie is traded on the weekly S1 at 1.0133. It is very possible, that the pair will test the Bollinger band more seriously, which now is located at 1.0119. The next support level is positioned at 1.0096, where the weekly S1 merges with the monthly S2.
Traders' Sentiment
SWFX market participants bought the pair fractionally, as the bulls side enlarged by 2% and reached 69%. Most possibly traders value the current depreciation period as prolong and bet on a very likely correction possibility. The placed orders market is positioned on the bullish side, as 73% of order are short.
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