© Dukascopy Bank SA
- Cambridge Mercantile Group (based on Reuters)
Pair's Outlook
USD/CAD has performed poorly this week; moreover, it extended its decline further today. The pair even touched the monthly PP at 1.0896, which has been intact since 8th of September, when the pair started its advance. Nevertheless, the weekly and monthly (longer term) technical studies are continuously pointing to the north; therefore, we expect the pair to reverse its recent losses and to approach or possibly breach the 1.10 level.
Traders' Sentiment
An overwhelming majority (74%) of the traders believe that the Greenback is going to regain its bullishness and increase in value relative to the Canadian counterpart. Meanwhile, the share of buy orders grew slightly from 59% up to 61%.
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