EUR/CAD 1H Chart: Ascending Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A jump to a five-year high of 1.5590 in mid-March initiated almost a four-month retreat of EUR/CAD.
Meanwhile, the pair's volatility has been gradually decreasing since the beginning of July as EUR/CAD managed to enter an ascending triangle pattern. However, more notable fluctuations may come back to the picture since EUR/CAD exited the formation several hours earlier and now is sitting below the lower trend-line but slightly above the 200-hour SMA at 1.4540. Technical indicators suggest the pair is capable of a climb before long but may change its trend in a longer perspective.
© Dukascopy Bank SA
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