Dukascopy - Analytics


    472.75 6.25/10
    83% of positive reviews

    USD/CAD growth prevented

    © Dukascopy Bank SA
    "We still hold a dollar bullish bias and if the U.S. jobs data surprises to the upside next week, we could see a return of dollar strength."
    - Nomura (based on CNBC)

    Pair's Outlook
    The US Dollar got beaten down after the Fed's Chief stated that interest rates would not be raised in 2015. The Greenback did, however, reach the predicted resistance levels, but still got pressured down, before settling just under the weekly PP at 1.2484. As Yellen's testimony remains a key impact factor, and the indicators are pointing south-ish, the Buck retains bearish bias. The closest support lies at 1.2405, but doubtfully the pair will fall further.

    Traders' Sentiment
    Market sentiment remained unchanged compared to yesterday's figures, with 67% of all positions being long. Meanwhile, the number of orders to acquire the Greenback surged 11 percentage points, accounting for 65% of the market right now.
    © Dukascopy Bank SA

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