USD/CAD snaps recent gains

This week the pair is driven by strong bearish sentiments, especially today, being that the price dropped from a 1.0355 level towards a support of a previous dip at 1.0305. Situation in the pair, while the U.S. Dollar accomplishes a correction, can be seen in other major counterparts, but the critical point is how investors will behave when the U.S. Dollar depreciates further. Also, it is important to find out whether there will be a snowball effect when traders recommence selling the U.S. Dollar.

SWFX market faces stable and at the same time strong bullish sentiments, currently there are 7 long positions out of 10. The on-going correction seems not to concern investors much—the stay with exactly the same positions as yesterday. Waiting orders market is also bullish with 64% of buy orders.