© Dukascopy Bank SA
Today the EUR/CAD currency couple experienced another bullish advance, therefore supporting the interim uptrend. As for now, the currency pair is about to test the weekly R3 at 1.2891, which might slow down the rally. In case it is breached, then the price might reach the upper Bollinger band at 1.2916, which in turn is expected to change the direction of the current movement upwards. Additionally, RSI indicator still shows a neutral signal, as well as the overall indicator outlook remains neutral.
Traders' sentiment
Traders at SWFX market expect that the Euro will depreciate against the Canadian Dollar, since only 38% of traders hold long positions and more than 62% of traders hold short positions. The situation with orders is completely neutral, as exactly 50% of traders ordered to buy and 50% ordered to sell the single European currency.
© Dukascopy Bank SA