© Dukascopy Bank SA
- BK Asset Management (based on MarketWatch)
Pair's Outlook
USD/CAD is failing to restart the rally that was initiated in mid-August and is therefore at risk of sliding through the nearest supports, such as the weekly PP and S1, down to the monthly pivot point. This may happen despite the fact there are more technical indicators that give ‘buy' signals than those that suggest emergence of a dip on a daily time-frame.
Traders' Sentiment
The share of the bullish towards USD/CAD market participants fluctuates day after day by several percentage points, but it does not fall below a mark of 70%, meaning the SWFX sentiment is fairly stable and strongly positive, though the upward momentum has been unable to push the price higher the past week.
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