© Dukascopy Bank SA
Right now EUR/CAD is in the middle of a bullish wave, which is struggling to cross the 200-hour SMA. Unless the weekly pivot point at 1.4130 gives in, the resistance at 1.4160 should soon be broken, which in turn will open a path towards the Nov 13 high at 1.4215, also the current location of the weekly R1 and up-trend. In the meantime, the sentiment of the traders is neutral—47% of open positions are long and 53% are short.
© Dukascopy Bank SA