| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Sell | Sell | Sell |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The Euro has been strengthening gradually against the Canadian Dollar during the past two months. The pair bounced off the lower boundary of a senior channel early in January and has since moved closer to the other boundary of this pattern.
As apparent on the chart, this upward momentum was bounded in a rising wedge which was breached on Friday. This breakout suggests that bulls are likely to dominate in the market this week, as well.
However, a strong surge in the medium term could be restricted by the weekly R1 and the 1.6025 mark which is also a two-year high. In case this area is surpassed, the next level of resistance is the upper boundary of the senior channel circa 1.62.
Following the expected reversal, the Euro should approach the 55- and 100-period SMAs currently located near the 1.56 mark.