© Dukascopy Bank SA
- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
USD/CAD is continuing to appreciate even higher, after yesterday's jump above the 1.13 level. Undoubtedly, the U.S has been the stronger currency among the two; moreover, according to the technical indicators the Greenback is likely to continue its dominance. Nonetheless, even though we expect that the 1.15 level could be the absolute top, most likely the mark will not be reached in the nearest time.
Traders' Sentiment
The traders' sentiment has grown to unseen levels, as 75% of them have opened a long positions on the pair with a hope that the Greenback will continue to climb. In the meantime, the share of buy orders skyrocketed from 29% up to 70%.
© Dukascopy Bank SA