"The US dollar is narrowing mixed as the employment data, and Fed speeches are awaited. Six Fed officials speak today, including Yellen and Fischer."
— Marc Chandler, Brown Brothers Harriman (based on investing.com)
Pair's outlook
By the middle of Friday's trading session the US Dollar remained below the 1.38 level against the Canadian Dollar. The pair was below the 1.3767 level, where the weekly R1 is located at, at the middle of the day. However, it had easily reached above the weekly R1, which indicates that the pair will reach for the next resistance. The next resistance cluster begins at the 1.3830 level, where the monthly R1 is located at. The cluster consists also of the upper Bollinger band and the 61.80% Fibonacci retracement level.
Traders' sentiment
SWFX traders have not changed their opinion at all, as 74% of open positions are short, and 67% of set up orders are to sell.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -48% | -48% | -46% | |
| Orders | -34% | -34% | -64% | |
| 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 | ↗ | ↗ | ↑ | |