EUR/CAD 4H: Could edge higher

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

[ANNOUNCE]The common European currency has surged by 177 pips or 1.17% against the Canadian Dollar since June 19. The currency pair breached the 50-, 100– and 200– hour SMAs during this period. [/ANNOUNCE]

As for the near future, the exchange rate could continue to edge higher within this week's trading sessions. The potential target for the EUR/CAD pair would be at the 1.5481.

However, the weekly R1 at 1.5415 could provide resistance for the currency exchange rate during the following trading sessions.

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