EUR/CAD 4H Chart: Pressured by 200– period SMA

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

[ANNOUNCE]The common European currency has declined by 2.49% in value against the Canadian Dollar since the beginning of February. The decline began after the currency pair tested the 200– period simple moving average at 1.4714 on February 3. [/ANNOUNCE]

As for this week's trading sessions, the exchange rate will most likely continue to edge lower. Bears could drive the EUR/CAD pair towards the psychological level at the 1.4100 area.

However, the currency exchange rate might make an upside reversal from a support cluster formed by the weekly S1 and the monthly S3 at 1.4291 during the following trading sessions.

Actual Topics