© Dukascopy Bank SA
EUR/CAD is hovering between two different-sloping trend-lines, which are successfully forming a triangle pattern for this currency pair. The apex of the pattern should be reached by Monday evening at the latest. Judging by signals sent by technical indicators we should not expect a confirmation of the pattern in the next few hours. Some moves are possible later in the evening, while daily studies see the pair higher. The same scenario is assumed by weekly indicators. However, market sentiment is strongly negative with respect to the Euro (67%). Moreover, there is no guarantee the pair will be able to come back above the supply created by 55-period SMA and weekly PP at 1.4340/51.
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