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The interim uptrend, which started less than a week ago, has successfully managed to continue, as today the EUR/CAD currency pair experienced another consequent movement upwards, which has already managed to overcome the weekly R1 at 1.2854, and now the price is gradually heading towards the upper Bollinger band at 1.2896, which is very likely to stop the rally. In case it is breached, then the currency couple might reach the weekly R2 at 1.2993, which in turn might bring some bearish momentum. Nevertheless, the overall indicator outlook has changed from negative to neutral, therefore no significant tendency changes are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are pessimistic about the EUR/CAD currency pair, since 26% of traders hold bullish positions and 74% of traders hold bearish positions. The situation with orders is quite neutral, as 54% of traders ordered to buy and 46% ordered to sell the single currency.
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