| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The European single currency has surged by 239 pips or 1.65% in value against the Canadian Dollar since last week's trading sessions. A breakout occurred through the upper border of a descending channel pattern on January 31.
All things being equal, the EUR/CAD exchange rate will most likely continue to trade bullish during the following trading sessions. The potential target for the pair will be near a resistance cluster formed by the weekly R1 and the monthly R1 at 1.4767.
Although, bearish traders might drive the currency exchange rate towards the weekly S1 and the 200– hour simple moving average at 1.4549 within this week's trading sessions.