EUR/CAD 4H Chart: Moving towards swing low - Trade Pattern Ideas - Dukascopy Bank
Mon, 01 Apr 2019 05:07:54 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇘
The single European currency has lost about 1.55% in value against the Canadian Dollar since last week. The decline began after the currency pair tested the upper boundary of a junior descending channel pattern at 1.5211.
Most likely, the currency exchange rate will continue its decline during this week's trading session. Bears are likely to drive the pair towards a swing low of 1.4897 during the following trading session.
Meanwhile, technical indicators flash bearish signals on both the smaller and the larger time-frame charts.
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