EUR/CAD 4H Chart: Bounces off support - Trade Pattern Ideas - Dukascopy Bank
Mon, 09 Dec 2019 06:04:39 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Neutral
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇒
The single European currency has been trading between the range of 1.4764/1.4592 zones against the Canadian Dollar since November 21. The currency pair depreciated about 1.14% in value during last week's trading sessions.
Given that the EUR/CAD currency pair has bounced off the bottom border of an ascending channel pattern, bullish traders could drive the price towards the 1.4850 area during the following trading sessions.
However, a resistance cluster formed by the weekly R1 and the monthly R1 at 1.4764 could hinder such progress within this week's trading sessions.
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