Market News and Research

EUR/CAD 4H Chart: Testing 200-hour SMA
Mon, 19 Aug 2019 04:50:47 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The common European currency has edged lower about 1.67% in value against the Canadian Dollar since August 7. The exchange rate is currently testing a support level formed by the 200– hour simple moving average at 1.4723.

If the support level holds, a surge towards a swing high at 1.4995 could be expected within this week's trading sessions.

However, if the currency pair passes the 200– hour SMA, bearish traders could drive the currency exchange rate towards a support level, formed by the weekly S2 at 1.4583 in the nearest future.


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