© Dukascopy Bank SA
Today the EUR/CAD currency pair experienced another consequent movement upwards, and now the price is gradually approaching the weekly R1 at 1.2943, which might bring some bearish momentum, but if it fails to slow down the rally, then the currency couple is likely to advance until the upper Bollinger band at 1.2985, which in turn is expected to change the direction of the prevailing movement upwards. Nevertheless, the overall indicator outlook shows a positive signal, therefore supporting the current bullish tendency.
Traders' sentiment
Traders at SWFX market are pessimistic regarding the EUR/CAD currency pair, as 27% of traders hold bullish positions and 73% of traders hold bearish positions. The situation with orders is quite neutral, since 46% of traders ordered to buy and 54% ordered to sell the Euro.
© Dukascopy Bank SA