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EUR/CAD 4H Chart: Two scenarios likely

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)BuyBuyBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate⇒⇒⇘

[ANNOUNCE]The single European currency has declined by 2.45% against the Canadian Dollar since the beginning of March. The currency pair tested the 1.4900 level during last week's trading sessions.
[/ANNOUNCE]
Currently, the exchange rate is trading near the lower line of a descending channel pattern and could be set for a breakout.

If the breakout occurs, a decline towards the 1.4800 level could be expected within this week's trading sessions. 

However, if the channel pattern holds, the currency exchange rate could make a brief retracement towards the 1.5100 level during the following trading sessions.

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16 Mar 2021

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12 Mar 2021

NZD/CAD 4H Chart: Decline likely to continue

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