| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
The common European currency has surged by 330 pips or 2.17% against the Canadian Dollar since July 6. The currency pair breached the upper boundary of an ascending channel pattern at 1.5522 on Monday morning.
Given that a breakout had occurred, the EUR/CAD exchange rate could continue to surge. The exchange rate is likely to target the 1.5650 mark during the following trading sessions.
On the other hand, the currency exchange rate could reverse from the current price level at 1.5543 and aim for the 50– period SMA at 1.5416 within this week's trading sessions.