EUR/CAD 4H Chart: Pair likely to target 1.5344 - Trade Pattern Ideas - Dukascopy Bank
Wed, 12 Dec 2018 07:22:50 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Neutral
Neutral
Alligator (13; 8; 5)
Neutral
Buy
Sell
SAR (0.02; 0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
The single European currency has continued to appreciate against the Canadian Dollar in an ascending channel pattern. The currency pair dashed through November swing high of 1.5148 as forecast.
The exchange rate is trading above a support cluster formed by the weekly pivot point and the 50-hour simple moving average at 1.5131 during the morning hours of Wednesday's session.
If this cluster holds, it is likely that the currency exchange rate will target a resistance level formed by a traditional weekly and monthly PPs at 1.5344 during the following trading sessions.
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