| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
Downside momentum has continued to dominate the EUR/CAD currency pair since the rate hit a psychological price level of 1.5200 on March 25.
The exchange rate is trading near the upper boundary of a junior descending channel pattern at 1.5023 during the first half of Monday's trading session and could be set for a breakout.
If this breakout occurs, the common European currency could aim for a swing high of 1.5210 in the short-term.
However, if the currency exchange rate fails to break the junior descending channel, bearish traders could push the pair towards a support line at 1.4928 within this week's trading sessions.