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The uptrend has failed to continue, as today the EUR/CAD currency pair experienced a slight bearish reaction, and now the currency couple is slowly moving towards the monthly PP at 1.2854, which might bring some bullish impulse, however, if it fails to stop the downtrend, then the price will probably decline until the 55-day SMA at 1.2777, which in turn is very likely to change the direction of the current movement downwards. Nevertheless, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are pessimistic about the EUR/CAD currency couple, as 28% of traders hold bullish positions and 72% of traders hold bearish positions. The situation with orders is quite neutral, since 45% of traders ordered to buy and 55% ordered to sell the Euro.
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