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The uptrend, which started yesterday, has failed to continue, as today the EUR/CAD currency pair rebounded from the weekly PP, and now the price is slowly heading towards the monthly S1 at 1.2685, which will probably bring some bullish impulse. In case it fails to stop the downtrend, then the currency couple might decline until the weekly S1 at 1.2654, which in turn is very likely to slow down the current tendency. Nevertheless, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are pessimistic about the EUR/CAD currency couple, since only 27% of traders hold bullish positions and 73% of traders hold bearish positions. The situation with orders is quite neutral, as 48% of traders ordered to buy and 52% ordered to sell the single currency.
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