| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇗ |
The common European currency has declined by 2.00% against the Canadian Dollar since January 4. The currency pair breached the lower line of a descending channel pattern at 1.5350 on January 15.
Everything being equal, the exchange rate could continue to decline during the following trading sessions. A breakout through the lower boundary of the descending channel pattern could occur.
However, if the channel pattern holds, the EUR/CAD currency exchange rate could make a brief retracement towards the 200– period simple moving average at 1.5571 during this week's trading sessions.