EUR/CAD experiences bullish correction

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Resistances: 1.2476; 1.2552; 1.2581
Supports: 1.2381; 1.2341; 1.2324

Outlook
The bearish tendency, which started on August 31th, failed to continue, and now the EUR/CAD currency couple is slowly approaching the weekly R1 at 1.2476, which might bring some bearish impetus. If it fails to stop the prevailing uptrend, then the price is likely to reach the weekly R2 at 1.2552, which might change the direction of the present movement. Besides, RSI indicator shows neutral signal, and it is not expected to change in the nearest future. Nevertheless, current supports are at 1.2381, 1.2341 and 1.2324, and they seem to be safe for now.

Traders' sentiment
Traders at SWFX market anticipate that the single European currency will appreciate against the Canadian Dollar, since 67% of traders hold bullish positions and only 33% of traders hold bearish positions. The situation with orders, however, is quite neutral, as 44% of traders ordered to buy and 56% ordered to sell the Euro.
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Actual Topics

Tue, 04 Sep 2012 07:03:16 GMT

EUR/USD erodes a downtrend resistance line

A major resistance at 1.2587/1.2619 appears to be exhausted and is already unable to restrain EUR/USD, which is being relentlessly driven upwards by bulls since July 25. If the current tendency persists, the pair will confront 1.2651/80, while subsequent levels are located at 1.2730/65 and 1.2811/24. However, the price may still be a subject to a dip to 1.2558/35.

Mon, 03 Sep 2012 17:11:22 GMT

EUR/AUD to test weekly R1 at 1.2317

The bullish tendency, which started on August 30th, successfully managed to advance even further, and now EUR/AUD is about to test the weekly R1 at 1.2317, which might slow down the rally. In case it is breached, then the currency couple might reach the upper Bollinger band at 1.2405, which in turn will probably bring some bearish momentum. Additionally, RSI

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