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Supports: 1.2177; 1.2105; 1.2084
Outlook
The interim tendency downwards has ended, and today the bullish advance occurred. At the moment, the EUR/CAD currency couple approached weekly PP at 1.2259, which might slow down the rally, but if it is broken, then next resistance at 1.2314 (20-day SMA) is very likely to stop the uptrend. Besides, RSI indicator shows neutral signal, and present supports are at 1.2177, 1.2105 and 1.2084, and so far there are no signs that they might be breached.
Traders' sentiment
Traders at SWFX market expect the single European currency to appreciate against the Canadian Dollar, since 72% of traders hold long positions and only 28% of traders hold short positions. The situation with orders, however, remains neutral, as 47% of traders ordered to buy and 53% of traders ordered to buy the Euro.