EUR/CAD 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The second part of November and the first weeks of December were marked as a period of an accelerating advance of the common currency against the Canadian Dollar. After the climb, the pair slightly retreated but then re-gained strength to rally again; in other words, the pair formed a double top pattern. Now the pair is unremittingly moving towards the pattern's support line and is only some 16 pips away from this significant level. Meanwhile, according to the SWFX data, the pair may break through this support zone as 77.78% of traders bet on depreciation of the pair.
© Dukascopy Bank SA
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