EUR/CAD 4H Chart: Triangle pattern

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

The single European currency versus the Canadian Dollar has been bouncing between the upper and lower bands of a triangle pattern.

The exchange rate is currently trading near the upper boundary of the triangle pattern and could be set for a breakout.

If this breakout occurs, the EUR/CAD currency pair will aim for a swing high at 1.5144 during the following trading sessions.

However, if the resistance level, formed by the upper band of the triangle pattern holds, a decline towards a support line set by the weekly pivot point at 1.5026 could follow in the short-term.

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