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The uptrend, which started yesterday, successfully managed to continue, as today the EUR/CAD currency couple experienced another bullish correction. As for now, the price is heading towards the 20-day SMA at 1.2676, which will probably bring some bearish momentum. In case it is breached, then the currency pair might reach the weekly PP at 1.2709, which in turn is likely to change the direction of the current tendency. Nevertheless, RSI indicator shows a neutral signal, as well as the overall indicator outlook now is neutral.
Traders' sentiment
Traders at SWFX market are neutral about the potential strength of the single European currency, since 50% of traders hold long positions and 50% of traders hold short positions. The distribution of orders is very similar, as 54% of traders ordered to buy and 46% ordered to sell the Euro.
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