© Dukascopy Bank SA
Yesterday's bullish advance has failed to continue today, and today the EUR/CAD currency pair experienced a small bearish reaction. At the particular moment the price is facing the upper Bollinger band at 1.2872, which will probably change the direction of the current movement. In case it is broken, then the currency couple might reach the monthly R1 at 1.2820, which in turn is expected to bring some bullish impetus. Nevertheless, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market expect that the Euro will depreciate against the Canadian Dollar, as only 27% of traders hold bullish positions and almost 73% of traders hold bearish positions. In contrast, the situation with orders spots some uptrend expectations, since 60% of traders ordered to buy and only 40% ordered to sell the single European currency.
© Dukascopy Bank SA