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Supports: 1.2265; 1.2195; 1.2107
Outlook
EUR/CAD managed to reach a new low yesterday at 1.2273, however, it bounced back from the Lower Bollinger Band, where it gained some bullish impetus. Although RSI indicator went out of the over-sold area, the short term outlook still seems bullish. As for now, EUR/CAD might find resistance at 1.2363 (Weekly PP), but if it is breached, then 20-day SMA at 1.2390 might serve as a resistance for the current uptrend. On the other hand, current support levels are at 1.2265, 1.2195 and 1.2107 and seem to be safe for now.
Traders Sentiment
Traders sentiment at SWFX market has changed a little bit since yesterday, however still the traders preserve optimism about EUR/CAD currency pair, as 70% of traders hold long positions and 30% hold short positions respectively. The situation with orders changed as well, since now only 60% of traders ordered to sell and 40% of traders ordered to buy EUR/CAD, expecting that the common currency will appreciate against the Canadian Dollar.