EUR/CAD 4H Chart: Supported by SMAs - Trade Pattern Ideas - Dukascopy Bank
Mon, 13 May 2019 05:03:16 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇘
The common European currency appreciated about 107 base points against the Canadian Dollar during last week's trading session. The exchange rate tested a resistance cluster formed by the combination of the weekly and the monthly pivot points at 1.5161 on Friday.
The 50-, 100– and 200-hour SMAs are currently providing support for the currency pair at 1.5052.
If the support cluster holds, bullish traders could push the currency exchange rate towards a psychological resistance level at 1.5200.
However, if the pair passes the cluster as mentioned earlier, a decline towards the 1.4949 regions could be expected.
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