© Dukascopy Bank SA
- Wells Fargo & Co. (based on Bloomberg)
Pair's Outlook
The US Dollar is continuing its gradual appreciation against the Canadian peer. As of today the pair reached the 1.1250 and traded just around 20 pips short of this year's high. The weekly and monthly technical indicators has not changed since yesterday as they are still bullish. We expect the pair to prolong its current advance and to possibly test the strongest level this year. As long as the pair trades above the 1.12 mark it is most likely to keep its bullish momentum.
Traders' Sentiment
After a brief dip (down to 70%) the percentage of long positions returned to its more familiar level—72%, meaning the sentiment is likely to stay bullish for some time.
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