Dukascopy - Analytics

    Dukascopy

    469.25 6.25/10
    83% of positive reviews
    Real

    USD/CAD trades above the monthly PP

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    "Our [Canadian] advantage is location and wide community acceptance."
     - Mark Brown at Pieridae Energy Ltd. (based on Bloomberg)


    Pair's Outlook
    The USD/CAD pair jumped from the monthly PP at 1.237, gaining about 176 pips throughout the day. Forming an engulfing bullish pattern, a the Canadian Dollar will continue to lose the value. The 55– 100– and 200– day SMA's are heading to the north, however, the Alligator jaw, which is the 13-period Smoothed Moving Average, lowered the direction today.


    Traders' Sentiment
    The market added some participants and the sentiment appears to be bullish with 51% of buying positions. 80% of traders hold their 50– pip pending orders long and the 100– pip ones are rather sold, with 43% of buying orders.
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