| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The common European currency has declined by 2.92% against the Canadian Dollar since the beginning of August. The currency pair tested the 1.5500 level on August 27.
Currently, the exchange rate is trading near the upper boundary of a descending channel pattern at 1.5580.
If the descending channel pattern holds, bearish traders could continue to pressure the price lower within this week's trading sessions.
However, if the currency exchange rate breaks the channel pattern, a surge towards the 1.5700 level could be expected during the following trading sessions.