EUR/CAD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Neutral Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

After the high volatility experienced in the previous two weeks, the EUR/CAD currency pair's technical charts need to be completely redrawn. One can observe that the pair has revealed a massive scale ascending channel pattern, the lower trend line of which caused the recent rebounds. 

Meanwhile, most recently the pair has struggled against the upper trend line of a junior pattern, which has been strengthened by other various resistance levels in the range from 1.4750 to 1.4600. 

However, the cluster has large free ranges above and below it, which means that one needs to wait and act, when the pair breaks free from the cluster.

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