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Supports: 1.2381; 1.2341; 1.2324
Outlook
The bearish tendency, which started on August 31th, failed to continue, and now the EUR/CAD currency couple is slowly approaching the weekly R1 at 1.2476, which might bring some bearish impetus. If it fails to stop the prevailing uptrend, then the price is likely to reach the weekly R2 at 1.2552, which might change the direction of the present movement. Besides, RSI indicator shows neutral signal, and it is not expected to change in the nearest future. Nevertheless, current supports are at 1.2381, 1.2341 and 1.2324, and they seem to be safe for now.
Traders' sentiment
Traders at SWFX market anticipate that the single European currency will appreciate against the Canadian Dollar, since 67% of traders hold bullish positions and only 33% of traders hold bearish positions. The situation with orders, however, is quite neutral, as 44% of traders ordered to buy and 56% ordered to sell the Euro.