© Dukascopy Bank SA
The uptrend, which started a couple of days ago, has failed to continue, as today the EUR/CAD currency couple experienced a slight bearish reaction. As for now, the currency pair is about to test the weekly PP at 1.2660, which is likely to bring some bullish impulse. If it fails to stop the uptrend, then the price might reach the lower Bollinger band at 1.2586, which is expected to change the direction of the prevailing bearish tendency. Additionally, RSI indicator shows a neutral signal, as well as the overall indicator outlook is still neutral.
Traders' sentiment
SWFX market participants are completely neutral about the EUR/CAD currency couple, since exactly 50% of traders hold bullish positions and 50% of traders hold bearish positions. The situation with orders as well is rather neutral, as 48% of traders ordered to buy and 52% ordered to sell the single European currency.
© Dukascopy Bank SA