© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
After a sharp advance yesterday USD/CAD is trading more or less steadily above the psychological level at 1.10. The pair's bulls most likely will try to push the pair even higher with the current bullishness in mind, possibly towards the last week's high at 1.1099. However, regarding the technical indicators, the longer term ones are pointing to the north, thus also supporting the possibility of a bullish scenario to occur.
Traders' Sentiment
The traders' sentiment is unchanged, with an overwhelming majority of the traders being bullish, namely 72%. The gap between the buy (66%) and sell (34%) orders placed 100 pips from the spot is more significant for now.
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