EUR/CAD slowly approaching upper Bollinger band

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
Today EUR/CAD experienced another slight bullish advance, and now the price is slowly approaching the upper Bollinger band at 1.3028, which is expected to reverse the prevailing movement upwards. In case it it breached, then the currency couple might reach the weekly R3 at 1.3100, which in turn will probably slow down the current rally. Additionally, the overall indicator outlook is positive, therefore supporting the prevailing bullish tendency.

Traders' sentiment
SWFX market participants have some bearish tendency expectations, as 29% of traders hold long positions and 71% of traders hold short positions. The distribution of orders is rather neutral, since 53% of traders ordered to buy and 47% ordered to sell the single currency.

© Dukascopy Bank SA
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Actual Topics

Tue, 04 Dec 2012 19:34:31 GMT

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