US Dollar Likely to Strengthen versus Canadian Dollar
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USDCAD– Retail forex traders remain aggressively short the US Dollar versus the Canadian Dollar, and a contrarian view of crowd sentiment keeps us focused on further USD/CAD gains.
And indeed until we see a substantive shift towards USD/CAD-buying we will continue to call for near-term strength.
See next currency section: SPX500 - S&P 500 Remains in Position to Rally
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.