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Supports: 1.2454; 1.2357; 1.2282
Outlook
The uptrend, which started three days ago, successfully continues, and today the EUR/CAD currency pair has already managed to break the 55-day SMA at 1.2454. As for now, the currency couple is heading towards the upper Bollinger band at 1.2502, which is expected to stop the uptrend, however, if it fails to change the prevailing tendency, then the price might advance further towards the next resistance at 1.2727 (monthly R1). On the other hand, present supports are at 1.2454, 1.2357 and 1.2282, and they seem secure for now.
Traders' sentiment
Traders at SWFX market expect that the single European currency will gain value against the Canadian Dollar, as 70% of traders hold long positions and only 30% of traders hold short positions. The situation with orders is rather similar, since 80% of traders ordered to buy and only 20% of traders ordered to sell the Euro.