Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Buy | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Neutral | Sell |
Alligator (13; 8; 5) | Sell | Buy | Buy |
SAR (0.02; 0.2) | Buy | Sell | Buy |
Aggregate | ⇘ | ⇒ | ⇒ |
The Euro is losing value against the Loonie in a short term channel down pattern. However, the situation is not going to last longer than a few trading sessions.
The junior pattern is a representation of the pair's last bounce off from the resistance of a medium scale channel down pattern. It is most likely that the pair will decline, reconfirm the support of the dominant pattern and resume the surge.
It is an almost certainty due to the fact that there are three additional notable support levels near the support line of the dominant channel. The weekly S1, monthly PP and the 38.20% Fibonacci retracement level are located near the trend line in a range from 1.4650 to 1.4700 mark.