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- Forexlive.com (based on Bloomberg)
Pair's Outlook
If we are to connect the troughs the price charted over May, we would get an accelerated up-trend that has been just breached. Being that the price has already returned to it, after fetching 1.0309/1.0292, USD/CAD is most likely to encounter renewed selling pressure, but the rally may still extend up to 1.0461/47 before we see a decline.
Traders' Sentiment
An overwhelming majority (75%) of SWFX market participants are convinced that the U.S. Dollar is going to carry on appreciating relative to its northern counterpart. At the same time the advantage of the buy (69%) orders over the sell (31%) ones is substantial as well.
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