© Dukascopy Bank SA
Today EUR/CAD experienced a slight bullish correction, and at the particular moment the currency couple is slowly heading towards the monthly R2 at 1.2711, which will probably slow down the prevailing uptrend. If it is broken, the the price might advance further until the weekly R1 at 1.2773, which in turn is likely to change the direction of the prevailing movement upwards. Nevertheless, the overall indicator outlook is bullish, therefore supporting the current bullish advance.
Traders' sentiment
Traders at SWFX market anticipate that the interim bearish tendency will continue, since 39% of traders hold bullish positions and 61% of traders hold bearish positions. In contrast, the situation with orders spots some bullish trend expectations, as 68% of traders ordered to buy and only 32% ordered to sell the Euro.
© Dukascopy Bank SA