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Supports: 1.2399; 1.2355; 1.2303
Outlook
The bullish correction, which occurred yesterday, managed to continue, and now the EUR/CAD currency pair is gradually approaching the monthly PP at 1.2498, which might slow down the uptrend. In case it is breached, then the price might reach the weekly R1 at 1.2550, which in turn will probably bring some bearish momentum. Additionally, RSI indicator still shows neutral signal, although it has made a slight advance towards the over-bought area. On the other hand, current supports are at 1.2399, 1.2355 and 1.2303, and they seem to be safe for now.
Traders' sentiment
Traders at SWFX market expect the Euro to gain value against the Canadian Dollar, since 71% of traders hold bullish positions and only 29% of traders hold bearish positions. In addition, 57% of traders ordered to buy and 43% ordered to sell the single European currency, therefore supporting the prevailing bullish tendency.