© Dukascopy Bank
Today EUR/CAD experienced another consequent bullish advance, therefore supporting the interim bullish trend, and now the currency couple is about to test the weekly PP at 1.3016, which might bring some bearish momentum. In case it fails to stop the current tendency, then the price will probably reach the upper Bollinger band at 1.3099, which in turn is expected to reverse the prevailing uptrend. In addition, the overall indicator outlook is bullish, therefore supporting the prevailing movement.
Traders' sentiment
Traders at SWFX market have slight uptrend expectations, as 57% of traders hold bullish positions and only 43% of traders hold bearish positions. The situation with orders, however, shows slight bearish trend expectations, since 38% of traders ordered to buy and 62% ordered to sell the single currency.
© Dukascopy Bank