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- John Kim, Portfolio Manager, Aston Hill Financial (based on Bloomberg)
Pair's Outlook
The Greenback was amidst a surge against the Loonie by mid-Thursday, as the pair found support during the previous trading session. On Wednesday, the rate traded between the resistance put up by the 200-day SMA at 1.3219 and the weekly PP at 1.3153. By the end of day's trading the rate rebounded against the weekly pivot point and began a surge, which continued into Thursday. Although, on Thursday, the rate faced once more the 200-hour SMA this time at 1.3215. The future outlook of the rate is that it is most likely to break through the 200-day SMA sooner or later.
Traders' Sentiment
SWFX traders have increased their bearishness by 5%, as 68% of open positions are short on Thursday. In the meantime, trader set up orders are almost neutral, namely 52% long.
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