USD/CAD - pair moves lower, eyeing 0.9972; sentiment neutral

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Much like its U.S. counterpart, the Canadian economy seems unable to break out of its sub-par growth trajectory ."
- Douglas Porter, deputy chief economist, BMO Capital Markets (based on Financial Post)

Pair's Outlook
The pair is unexpectedly continuing its downward movement, and is currently moving closer towards the weekly S1 at 0.9972. However, RSI (14) is likely to give a Buy signal in near term, so a bullish correction is highly probable. In such case, USD/CAD would be en-route towards the 200-day SMA at 1.0041.

Traders' Sentiment
We can currently observe a perfect balance between bulls and bears, as market participants evaluate both scenarios as equally probable. The current market sentiment is strongly supported by the aggregate market indicators' signals (neutral for daily and monthly timeframes).

© Dukascopy Bank SA
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Actual Topics

Tue, 31 Jul 2012 14:01:07 GMT

NZD/USD – boost in bearish sentiment, weekly outlook: Sell

After a sharp rise last week, NZD/USD has been capped by the Upper Bollinger band around 0.8133, and the pair now is moving sideways. The daily outlook is neutral, but the weekly indicators give a slight Sell signal. In case of the bearish scenario, we are likely to see the pair moving towards 200-day SMA at 0.7990.

Tue, 31 Jul 2012 17:14:50 GMT

AUD/JPY to confront 82.689

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