EUR/CAD 4H Chart: Bears market

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

A resistance cluster formed by the weekly R1 and the 23.60% Fibonacci retracement level at 1.5114 has pressured the common European currency south against the Canadian Dollar.

The currency pair breached the 61.80% Fibonacci retracement level at 1.5024 during the morning hours of Monday's trading session.

Most likely, the EUR/CAD exchange rate will continue its southern movement during the following trading sessions.

The potential downside swing will be near a support cluster formed by the combination of the weekly and the monthly PPs ay 1.4956 in the nearest future.

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