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Yesterday' s bullish reaction successfully managed to continue today, and now the EUR/CAD currency couple confronts the weekly S1 at 1.2613, which will probably bring some bullish impulse. In case it is breached, then the price might reach the lower Bollinger band at 1.2568, which in turn is expected to reverse the prevailing movement downwards. Moreover, RSI indicator still remains neutral, although the overall indicator outlook has changed from neutral to positive, therefore a trend reversal might be expected in the nearest future.
Traders' sentiment
Traders at SWFX market maintain mixed feelings regarding the EUR/CAD currency pair, as 53% of traders hold long positions and 47% of traders hold short positions. The distribution of orders, however, shows uptrend expectations, since 67% of traders ordered to buy and only 33% ordered to sell the single currency.
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