EUR/CAD 4H Chart: Broadening Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The European common currency entered a broadening falling wedge pattern against the Canadian Dollar on May 18. The pattern has been confirmed two times since then. At the moment, the currency exchange rate is at 1.4414, and it is moving south to the patterns lower trend line, which is located at 1.4300. The pair is facing one support on its way down to the trend line, and it is represented by the monthly S1 at 1.4353. A movement of the pair upwards from the technical perspective is unlikely, as there are various supports located with an interval of around 30 pips, starting from the weekly pivot point at 1.4480.
© Dukascopy Bank SA
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Tue, 14 Jun 2016 13:23:11 GMT

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Tue, 14 Jun 2016 07:52:05 GMT

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