© Dukascopy Bank SA
"The Canadian dollar likely got ahead of itself when it was rallying."
- Camilla Stunton, Bank of Nova Scotia (based on Bloomberg Businessweek)
Pair's Outlook
Pair poses for a short term recovery as it tested monthly S1 at 0.9942. However, pairs outlook and expert expectations remain negative as pair is expected to drop below 99 cent mark by the end of trading session.
Traders' Sentiment
Trader sentiments remains bullish and hovers above 70% gauge for a second week now. Distribution of pending orders hasn't changed much either— 66% of traders have posted buy orders in the 100 pip range from the current market price.
© Dukascopy Bank SA