© Dukascopy Bank SA
Today the EUR/CAD currency pair experienced another movement downwards, and now the price is slowly approaching the 55-day SMA at 1.2784, which will probably slow down the downtrend, but if it fails to stop the bearish tendency, then the currency couple might reach the 200-day SMA at 1.2714, which in turn is expected to change the direction of the current movement downwards. Nevertheless, the overall indicator outlook is neutral, and it is not expected to change in the nearest future.
Traders' sentiment
Traders at SWFX market are pessimistic about the EUR/CAD currency pair, as 27% of traders hold bullish positions and 73% of traders hold bearish positions. The situation with orders shows some uptrend expectations, since 68% of traders ordered to buy and 32% ordered to sell the single currency.
© Dukascopy Bank SA