EUR/CAD 4H Chart: Moving towards 1.4933 - Trade Pattern Ideas - Dukascopy Bank
Mon, 04 Feb 2019 07:16:36 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Buy
RSI (14)
Buy
Neutral
Neutral
Stochastic (5; 3)
Neutral
Buy
Buy
Alligator (13; 8; 5)
Sell
Sell
Neutral
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇗
The single European currency has continued to edge lower against the Canadian Dollar. The exchange rate has depreciated about 215 base points during the last week.
The currency pair tested the upper boundary of a descending channel pattern at 1.5194 on January 30 and followed by a downside movement.
The short-term target for bearish traders will be near a support level formed by the lower boundary of a dominant ascending channel at 1.4933.
A possible upside reversal could follow from the support level as mentioned above.
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