EUR/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Let us look again at the channel up pattern shaped by EUR/CAD on November 25. The pair has recently surpassed a five-year high sitting at 1.4441 but failed to gain a footing at this peak and retreated, albeit slightly. Meanwhile, the SWFX data indicates a possibility of a jump of the single currency against the Canadian Dollar as 60.61% of all orders are placed to buy the pair. Technical indicators are pointing to a climb in the short and medium terms and are sending neutral signals for longer time frame.
© Dukascopy Bank SA
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Mon, 02 Dec 2013 07:35:26 GMT

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