| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The single European currency depreciated about 1.11% in value against the Canadian Dollar during last week's trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern at 1.5026 during the Asian session on Monday.
Given that a breakout had occurred, it is likely that the downside movement could continue within this week's trading sessions.
The potential downside target will be near a support cluster formed by the combination of the weekly and the monthly PPs at 1.4905.
Meanwhile, technical indicators flash sell signals on both the smaller and the larger time frame charts.