EUR/CAD 4H Chart: Set for breakout - Trade Pattern Ideas - Dukascopy Bank
Tue, 23 Apr 2019 05:43:20 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇘
During the past week, the common European currency has depreciated about 0.90% in value against the Canadian Dollar. The currency pair has tested the lower band of an ascending channel pattern at 1.5016.
Technical indicators demonstrate that a breakout through the bottom border of an ascending channel could occur within this session.
If the breakout occurs, the EUR/CAD exchange rate will aim for a psychological support level at 1.4900 before the end of this week trading sessions.
However, if the uptrend channel holds, a surge towards a resistance cluster at 1.5148 could be expected.
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