© Dukascopy Bank SA
Today the EUR/CAD currency pair experienced another movement upwards, and at the particular moment the price is gradually approaching the weekly R1 at 1.2969, which will probably bring some bearish momentum, but in case it is breached, the currency couple is likely to reach the upper Bollinger band at 1.2996, which in turn is expected to change the direction of the prevailing tendency. Nevertheless, the overall indicator outlook is positive, therefore no trend reversals should occur in the nearest future.
Traders' sentiment
Traders at SWFX market are pessimistic about the EUR/CAD currency pair, since 29% of traders hold bullish positions and 71% of traders hold bearish positions. The situation with orders, however, spots slight uptrend expectations, as 58% of traders ordered to buy the single currency.
© Dukascopy Bank SA