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- Klarity FX (based on Reuters)
Pair's Outlook
The USD/CAD cross is not losing its bullish momentum for a bit as the value of the Greenback continuous to grow rather significantly. The thing that has changed since yesterday is the daily technical indicators that is now less bullish than a day earlier. Nonetheless, the weekly and monthly technicals continue to be strongly bullish. We also think that for the time being the pair is likely to climb in value even more, targeting the 1.15 mark.
Traders' Sentiment
The SWFX traders are getting less convinced that the US Dollar is going to gain relative to the Loonie; but overall the bulls are still in a distinct majority, as they take up 59% of the market, and this is a significant advantage over the bears (41%).
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