EUR/CAD 4H Chart: Reveals new ascending channel - Trade Pattern Ideas - Dukascopy Bank
Mon, 03 Jun 2019 05:47:54 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)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
Since May 27, the single European currency has appreciated about 1.33% in value against the Canadian Dollar. The currency pair tested the 23.60% Fibonacci retracement level at 1.5122.
Everything being equal, it is likely that the EUR/CAD exchange rate will continue to gain strength within this week's trading sessions. The potential target will be at 1.5182.
However, it is likely that the currency exchange rate makes a brief retracement towards a support cluster formed by the 50.00% Fibonacci retracement level and the combination of the 100– and 200-hour SMAs at 1.5054 in the short-term.
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