Dukascopy - Analytics

Dukascopy

463.75 6.50/10
83% of positive reviews
Real

USD/CAD shows no value change

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"With oil finding a bit of a bottom in the $50 range, it's probably given us a little bit of support on USD/CAD. So for the week we're looking at the C$1.23 to C$1.26 range." 
- CIBC World Markets (based on Reuters)


Pair's Outlook
The USD/CAD bounced back from the weekly PP level at 1.255. The pair has been fluctuating in a tight range between 1.255 and the monthly PP at 1.237 for the fifth consecutive day, showing no changes in price. The RSI levels are not hinting neither on oversold nor overbought condition of the pair while it is still trading above ate 55– 100– and 200– day SMAs.


Traders' Sentiment
More than a half (57%) of the whole market is holding long positions opened. 39% of pending orders will be bought once the pair surpasses the 50– pip range. As for the 100– pip ones, those will be bought by 42% of the case.
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