| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The single European currency has been trending bullish against the Canadian Dollar since the middle of February. The currency pair has surged by 9.42% in value during this period.
Currently, the exchange rate is testing a support level formed by the 50– period simple moving average at 1.5332.
If the support level holds, the EUR/CAD pair will likely continue to edge higher in the nearest future.
However, if the currency exchange rate breaks the 50– hour SMA, a decline towards the 1.4726 area could be expected within this week's trading sessions.