"The Canadian currency has been caught in a perfect storm ."
— Alfonso Espanza, Market Pulse (based on investing.com)
Pair's outlook
By the middle of Thursday's trading session the Greenback remained almost unchanged against the Canadian Dollar below the 1.3750 level. The currency exchange rate traded in limbo around the upper trend line of the long term ascending channel pattern. The markets are still watching, how the currency exchange rate will act in the near future, as either a break or rebound will reveal the future medium term direction of the pair. In addition, the currency pair remained in the medium term, tight range ascending channel pattern.
Traders' sentiment
The pair can be considered oversold already, as 74% of open SWFX positions are short. However, 67% of trader set up orders are to sell the Buck, favoring the Canadian.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -48% | -46% | -40% | |
| Orders | -34% | -64% | -28% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Sell | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Buy | Buy | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Sell | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |