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EUR/CAD breakout could occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE]The Eurozone single currency fell by 2.02% against the Canadian Dollar last week. The decline was stopped by the 200– period simple moving average at 1.4762 during last week's trading sessions.[/ANNOUNCE]

Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern and could be set for a breakout.

If the breakout occurs, a decline towards the 1.4600 level could be expected this week.

However, if the channel pattern holds, buyers might drive the EUR/CAD currency exchange rate higher during the following trading sessions.

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