EURCAD currency pair recently reversed up sharply with the weekly Japanese candlesticks reversal pattern Hammer from the support level 1.30000, standing well outside of the lower weekly Bollinger Band.
The upward reversal from this support level stopped the previous sharp downward trend. Given the strongly bullish euro sentiment that can be seen across the FX markets today, EURCAD currency pair can then be expected to rise further toward the next resistance level 1.34000 (former multi month
support from the middle of this year).