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- Macquarie Private Wealth (based on Bloomberg)
Pair's Outlook
The loonie is not pampered with strong bullish sentiments, which could potentially support price's growth. Yesterday the pair stepped higher till the weekly S1 and the 100-day SMA at 1.0120, but the momentum was too weak to go higher and today the pair dropped back to the weekly S2 level at 1.0075. USD/CAD still remains within a bullish trend, thus opening long positions might be extremely risky.
Traders' Sentiment
SWFX market is under control of bulls, since the vast majority of orders (74%) are oriented to earn from the Canadian Dollar's depreciation. Pending orders market is bullish with 63% of long orders.
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