© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The US Dollar ended a nine consecutive session streak of losses against the Canadian Dollar on Friday, as the currency exchange rate changed direction and continued to surge even by 12:00 GMT on Monday. As the currency pair broke a few resistances on Friday, including the monthly S1 at 1.2832, lower Bollinger band at 1.2787, and started Monday's trading session above the weekly PP at 1.2870, the rate will face no resistance clusters until around the level of 1.2980. However, daily aggregate technical indicators forecast a fall for the pair during today's trading session.
Traders' Sentiment
Trader sentiment became neutral on Monday, as 50% of open positions are long. In the meantime, pending orders have increasingly become long, as 70%of open commands are long.
© Dukascopy Bank SA