Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.4034
Kijun-Sen level: 1.4073
Ichimoku cloud top: 1.4182
Ichimoku cloud bottom: 1.4150
EUR/CAD has made a low 1.3880 and recovered from that level. Overall trend is weak as long as resistance 1.4125 holds.
The break of 1.4125 would extend gain to 1.4178/1.4215 in the short term. The pair’s minor support is around 1.4000 and any indicative break below will target 1.3880/1.3790.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Sell EUR/CAD around 1.4025, SL 1.4125, Target 1.3790.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.4034
Kijun-Sen level: 1.4073
Ichimoku cloud top: 1.4182
Ichimoku cloud bottom: 1.4150
EUR/CAD has made a low 1.3880 and recovered from that level. Overall trend is weak as long as resistance 1.4125 holds.
The break of 1.4125 would extend gain to 1.4178/1.4215 in the short term. The pair’s minor support is around 1.4000 and any indicative break below will target 1.3880/1.3790.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Sell EUR/CAD around 1.4025, SL 1.4125, Target 1.3790.