EUR/CAD 4H Chart: Remains near support cluster - Trade Pattern Ideas - Dukascopy Bank
Mon, 26 Nov 2018 07:05:27 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Buy
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Buy
Neutral
Alligator (13; 8; 5)
Sell
Buy
Sell
SAR (0.02; 0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The common European currency has been appreciating against the Canadian Dollar in a short-term ascending channel pattern. The bullish momentum began on October 25 after the currency pair tested a swing low of 1.4750.
As apparent on the chart, the exchange rate has breached the 50-, 100-, and 200-hour SMAs. Most likely, the pair will continue to go down and could target a support cluster formed by the weekly and the monthly PPs at 1.4931 within this session.
If this support cluster holds, it is likely that the EUR/CAD currency exchange rate will aim at November swing high of 1.5148 during the following trading sessions.
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