FOREX ANALYSIS: Canadian Dollar Forecast to Decline
Retail short interest in the USDCAD surged 61 percent since last week, while long positions are down a comparable 35 percent through the same period.
A positive technical forecast for the USDCAD and a sharp turn in retail sentiment leave us in favor of further gains.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.