Note: This section contains information in English only."We're in a period of consolidation. We saw this in October, we spent the whole month rising and then we had a week of sideways trading."
- Neil Mellor, BNY Mellon (based on Reuters)
Pair's Outlook
[ANNOUNCE]The US Dollar continued to move lower against the Canadian Dollar on Friday, as the currency exchange rate suffered major losses the previous session.[/ANNOUNCE] During Thursday's trading session the pair fell almost to the 1.33 mark from 1.3440. Such a fall was expected to occur, however, it was not expected to occur so soon, as a cluster of significance near the 1.3430 level was keeping the rate above that level. During the move a new descending channel has revealed itself and the rate is set to decline for the few upcoming weeks.
Traders' Sentiment
SWFX traders have increased their bullish positions, as 60% of open positions were long on Friday, compared to 56% on Thursday. Meanwhile, 57% of set up orders were to sell the Greenback.
Fri, 02 Dec 2016 15:00:04 GMT
Source: Dukascopy Bank SA
- Neil Mellor, BNY Mellon (based on Reuters)
Pair's Outlook
[ANNOUNCE]The US Dollar continued to move lower against the Canadian Dollar on Friday, as the currency exchange rate suffered major losses the previous session.[/ANNOUNCE] During Thursday's trading session the pair fell almost to the 1.33 mark from 1.3440. Such a fall was expected to occur, however, it was not expected to occur so soon, as a cluster of significance near the 1.3430 level was keeping the rate above that level. During the move a new descending channel has revealed itself and the rate is set to decline for the few upcoming weeks.
Traders' Sentiment
SWFX traders have increased their bullish positions, as 60% of open positions were long on Friday, compared to 56% on Thursday. Meanwhile, 57% of set up orders were to sell the Greenback.