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- CIBC World Markets (based on Reuters)
Pair's Outlook
The 100-day SMA still continues to support the pair and it has done that all week long. The pair is on an uptrend, but it is climbing rather slowly as the market participants seems unconfident. To continue its advance the pair has to break the weekly R1, 55-day SMA and Bollinger Bands around 1.1060. Moreover, the technical indicators are largely giving ‘buy' signals.
Traders' Sentiment
The SWFX traders are getting less and less convinced that the U.S. Dollar is going to gain relative to the Loonie; but overall the bulls are still in a majority, as they take up 54% of the market, and this is a advantage over the bulls (46%). .
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