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Supports: 1.2357; 1.2272; 1.2201
Outlook
The bullish trend, which started on August 20th, managed to advance even further, and today the EUR/CAD currency pair has already breached the weekly R2 at 1.2357, and now the price is slowly moving towards the weekly R3 at 1.2430, which might slow down the uptrend, however, if it is broken, then next resistance at 1.2462 (upper Bollinger band) is very likely to bring some bearish momentum. Moreover, RSI indicator remains neutral, although it has made a significant move towards the over-bought area.
Traders' sentiment
SWFX market participants remain optimistic regarding the potential strength of the single-European currency, since 71% of traders hold long positions and 29% of traders hold short positions. The situation with orders is rather similar, as 69% of traders ordered to buy and only 31% ordered to sell the Euro.