| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Buy | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
The common European currency has been trading in a junior descending channel pattern against the Canadian Dollar. The currency pair re-tested the upper boundary of the channel pattern at 1.5183 on January 24.
Everything being equal, it is likely that the junior descending channel could guide the exchange rate towards a swing low of 1.4900 during the following trading session.
Although, a support level formed by a traditional weekly pivot point near the 1.4968 area could hinder such movement in the short-term.