| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Neutral |
| Alligator (13; 8; 5) | Neutral | Buy | Neutral |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The common European currency has recently reached the resistance of a rather large scale descending channel pattern against the Canadian Dollar. This resistance has been holding its ground for three times during the last weeks.
The reasons for the various attempts of the Euro to break through can be found in the various support levels below the currency exchange rate. For example the 55 and 100–period simple moving averages together with the lower trend line of a rising wedge pattern have caused short term rebounds.
In regards to the future, the situation is almost going to remain unchanged, as the rate gets squeezed into a short term triangle pattern between the medium term channel's resistance and various support levels. Afterwards, a breakout to the downside should occur.