EUR/CAD 4H Chart: Moving towards swing low

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The single European currency has lost about 1.55% in value against the Canadian Dollar since last week. The decline began after the currency pair tested the upper boundary of a junior descending channel pattern at 1.5211.

Most likely, the currency exchange rate will continue its decline during this week's trading session. Bears are likely to drive the pair towards a swing low of 1.4897 during the following trading session.

Meanwhile, technical indicators flash bearish signals on both the smaller and the larger time-frame charts.

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