EUR/CAD 4H Chart: Pressured by 200-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Tue, 15 Jan 2019 07:28:19 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Sell
Neutral
Buy
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇗
The single European currency has been trading sideways against the Canadian Dollar since January 8. The 200-hour simple moving average was providing resistance at 1.5266.
he exchange rate is currently trading near the bottom border of an ascending channel at 1.5232.
If the support level formed by the lower boundary of the channel pattern holds, the currency exchange rate could aim for a resistance cluster at 1.5405 within this session.
However, if the price breaks the channel pattern, the decline of the EUR/CAD pair will continue during this week trading sessions.
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