| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Sell |
| Stochastic (5; 3) | Sell | Buy | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The common European currency has been trading in an ascending channel against the Canadian Dollar after it hit the lower boundary of a three-month junior channel.
The currency pair has breached a resistance cluster set by the combination of the weekly, the monthly PPs and the 100-hour simple moving average near 1.5961.
The overall market sentiment is bullish and it is likely to continue for the following trading sessions until it breaches the upper boundary of a dominant channel. In addition, Technical indicators suggest that the bears could continue to grow stronger through the following week.