© Dukascopy Bank SA
- Nova Scotia (based on Bloomberg)
Pair's Outlook
USD/CAD is behaving similarly to other pairs and follows an opposite direction compared to previous days' performance. Today the loonie is appreciating from a 1.0099 level, which is formed from the Bollinger band, weekly and monthly S1 levels. In case the pair inflames more intense bullish sentiments next week, than the next resistance is located at 1.0169, where the 20-day SMA merges with the weekly PP.
Traders' Sentiment
Investors decrease their bullish sentiments, as the buy side was reduced by 2% and currently amounts to 72%. Placed orders segment is heavily bearish, as 71% of orders are short, indicating expectations to experience continuation of depreciation.
© Dukascopy Bank SA