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EUR/CAD 4H Chart: Short-term surge likely

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

[ANNOUNCE]The Eurozone single currency traded sideways movement against the Canadian Dollar during last week trading sessions. The currency pair re-tested the upper boundary of a medium-term descending channel pattern at 1.5155 during Friday's trading session.
[/ANNOUNCE]
Most likely, the currency exchange rate will maintain the medium-term descending channel pattern during this week's trading sessions. The potential downside target will be at 1.4952.

Although, technical indicators flash buy signals on the 4(H) time frame chart. From a theoretical point of view, a surge could be expected in the short-term.

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18 Mar 2019

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