© Dukascopy Bank SA
- Klarity FX (based on Reuters)
Pair's Outlook
It seems today USD/CAD is going to fall beneath the up-trend line that has been keeping the price afloat this week. Then we will look for the support at 1.1000/1.0979 to attempt to restore bullish momentum. In case the negative sentiments persist, the U.S. Dollar could drop down to 1.0843/29, the key support that secures long-term positive outlook on the pair.
Traders' Sentiment
The distribution between the long (53%) and short (47%) positions opened on USD/CAD is perfectly unchanged compared to the previous records. As for the orders, however, the portion of the sell ones 50 pips from the spot has gone from 25% up to 71% during the last 24 hours.
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