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- Alpari (based on Investing.com)
Pair's Outlook
As the US Dollar strengthened against all other major currencies on UK European Union membership referendum results, the USD/CAD pair was no exception to the surge. However, on Monday the currency exchange rate is declining, as it is in a sell off caused by various factors. Among these factors are, for example, the fact that traders are taking out profits, some experts consider that the markets overreacted at the first notion of the Brexit vote and the fact that the referendum does not necessary mean a leave of the EU by the UK. At the moment the pair is at 1.3030.
Traders' Sentiment
SWFX traders are bearish on the pair, as 57% of open positions are short. In addition, 69% of pending orders in the 100-pip range are long, as traders expect that the USD will continue its surge.
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