| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
Upside risks have dominated the single European currency against the Canadian Dollar. The currency pair has edged higher by 595 pips or 4.17% in value during the past two weeks trading sessions.
The exchange rate is currently trading near the upper boundary of a descending channel pattern at 1.4742. A breakout could occur within this week's trading sessions.
However, if the descending channel holds, a decline towards the weekly S1 and the monthly S1 at 1.4452 could be expected during the following trading sessions.